European cooperative R&D and firm performance

Luis Aguiar
Authors registered in the RePEc Author Service: Philippe Gagnepain

UC3M Working papers. Economics from Universidad Carlos III de Madrid. Departamento de Economía

Abstract: The goal of this paper is to assess the impact on the performance of firms that participate in Research Joint Ventures (RJVs) funded by the Fifth European Framework Programme for Research and Technological Development (EU-FP5). A special emphasis is made on the User-friendly Information Society (IST) programme, one of the most important thematic programmes of the EU-FP5. We use the funding available to the firms as an instrumental variable to account for self-selection and estimate the Local Average Treatment Effect (LATE) of participation by considering labor productivity and profit margin as performance measures. Our results show a large and positive impact of participation on the labor productivity of the firms, whereas the effect on profit margin is weaker. When taking into account the size of the RJV, we find that the positive impact on labor productivity comes mainly from participation in large projects and that participation in smaller RJVs has a negative effect on the profit margin

Keywords: R&D; policy; Productivity; EU; framework; programme; Research; joint; venture (search for similar items in EconPapers)
JEL-codes: L24 L25 O31 O32 O38 (search for similar items in EconPapers)
Date: 2012-02
New Economics Papers: this item is included in nep-cse, nep-eff, nep-eur, nep-ino, nep-ppm and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Working Paper: European Cooperative R&D And Firm Performance (2011)
Working Paper: European Cooperative R&D And Firm Performance (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:cte:werepe:we1207

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