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Complementarity and/or substitutability across firms' R&D investment strategies
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One of the most relevant strategic decisions regarding the organization of the firm is how to determine its vertical boundaries. Knowledge is both an input and output of firm activity. At times firms have to resort to external sources to acquire knowledge but profiting from it requires the development of own innovative capabilities through internal R&D.
Our objectives are:
  • To assess conditions under which firms will opt either just for external knowledge acquisition strategies, or just to undertake internal R&D activities, or both of them together. Belonging to an R&D network, its size and the number of networks are key elements governing firms' decisions.
  • To explore what is the socially optimal internal-external knowledge mix. Empirical analysis will disclose industrial policy recommendations in the design of technology strategy.

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Publications

The paper by Francisco Caballero Sanz, Pedro Mendi, Rafael Moner-Colonques and Jos� J. Sempere-Monerris, "El posible conflicto entre los incentivos privados y p�blicos a innovar en una industria exportadora", examines the existence of possible links between the incentives to innovate, social and private, and firm internationalization. Their analysis identifies conditions under which the private incentive to adopt a process innovation is larger than the social incentive, a finding that is in contrast with the received literature. Thus, the class of examples illustrates the cross effects between innovation policy and internationalization policy: measures that support export activities can indeed lead firms to adopt an innovation.

The contribution Relative R&D intensity for exporters in an industry with network spillovers (by J. Ma�ez, R.Moner-Colonques, J.A. Sanchis and J.J. Sempere-Monerris) explores the links between firms R&D investment decisions, and firms decisions on how much to sell at home and abroad in a heterogeneous-firm international oligopoly. The model provides analytical results that yield four testable hypotheses, which are empirically checked with data from the Spanish Survey on Business Strategies (ESEE) for the period 1992-2013. Our results confirm that exporters invest in R&D four times more than non-exporters in relative terms (Hypothesis H1). Our estimates confirm that past R&D intensity has a positive and significantly different effect on domestic and export outputs by exporters and that the effect on the rate of growth of exports is larger (H2). Econometric evidence suggests a positive and significant effect of appropriability on domestic sales, while a positive but non-significant effect on exports; thus partially confirming hypothesis H3. Finally, R&D efficiency measured as the propensity to obtain a patent or utility model is found to have a positive and significant effect on the rate of growth of exports, which confirms H4.

The paper Cooperation and licensing: Empirical evidence from Spain by P. Mendi, R. Moner-Colonques and J.J. Sempere-Monerris makes use of the PITEC database to provide panel data evidence on the effect of cooperation on licensing activities of a sample of Spanish firms for the 2005-13. The authors find evidence of a positive relationship between cooperation and licensing, in particular cooperation with research institutions. Cooperation with other firms do not seem to affect the likelihood of a firm engaging in licensing.

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ERI-CES
Researcher in charge: Rafael Moner-Colonques
Facultad de Economía - Campus de Tarongers
Avda. dels Tarongers s/n - 46022 Valencia (SPAIN)
Tel.: (+34) 963 828 784 - Fax: (+34) 963 828 249
 
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