Multinationals, R&D, and productivity: evidence for UK manufacturing firms

Dolores Añón Higón, Miguel Manjon Antolin and Juan A. Mañez

Industrial and Corporate Change, 2011, vol. 20, issue 2, 641-659

Abstract: In this study, we analyze multinationality (domestic-based firms versus multinationals) and foreignness (foreign versus domestic firms) effects in the returns of R&D to productivity. We follow a two-step strategy. In the first step, we consistently estimate firm's productivity by GMM and numerically compute the sample distribution of the R&D returns. In the second step, we use stochastic dominance techniques to make inferences on the multinationality and foreignness effects. Results for a panel of UK manufacturing firms suggest that multinationality and foreignness effects operate in an opposite way: whilst the multinationality effect enhances R&D returns, the foreignness diminishes them. Copyright 2011 The Author 2011. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Date: 2011
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Related works:
Working Paper: Multinationals, R&D and productivity: Evidence for UK Manufacturing firms (2010)
Working Paper: Multinationals, R&D and productivity: Evidence for UK Manufactoring firms (2010)
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