Determinants of R&D Activities by Start-up Firms: Evidence from Japan

Hiroyuki Okamuro, 博之 岡室 and ヒロユキ オカムロ

No 2006-2, CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University

Abstract: The start-up of new businesses has been attracting considerable attention due to their potential contribution to innovation. However, there are few econometric studies on the determinants of R&D by start-up firms. Using firm-level, industry-level, and regional data, this paper examines the determinants of R&D investment by Japanese start-up firms in the manufacturing sector. Specifically, this study employs probit analysis on the probability of R&D investment and Tobit analysis on R&D intensity. Empirical results demonstrate that firm size and appropriability have significant positive impacts on both the probability of R&D investment and R&D intensity, while technological opportunity and the regional agglomeration of research institutes and human resources have significant positive effects on R&D intensity. These findings highlight the importance of regional intellectual infrastructure in promoting R&D of start-up firms.

Keywords: Start-up Firm; Small and Medium Enterprise (SME); R&D; Japan (search for similar items in EconPapers)
Pages: 22 pages
Date: 2006-06
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitcei:2006-2

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