Effects of R & D Spillovers on the Profitability of Firms |
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Authors: | Hanel Petr St-Pierre Alain |
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Institution: | (1) Département d'économique, Université de Sherbrooke, Sherbrooke, Qc, Canada, J1H 1H9 |
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Abstract: | This cross-section study of a sample of 278 firms from the COMPUSTAT II database explores the relationship between a firm's profitability and other variables, notably its own R & D capital, knowledge and market spillovers and appropriability. The proxy for knowledge spillovers is based on technological distance. Market spillovers are based on a patent input-output matrix. Both spillover proxies combine information on R & D expenditures and patent counts.The results do not reject the hypothesis that R & D has a direct, positive effect on profitability, especially in industries with effective patent protection. Information spillovers affect profits negatively, market spillovers positively. |
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Keywords: | Appropriability cross-section manufacturing profitability R & D spillovers technological externalities |
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