Effects of coordinated strategies on product and process R&;D |
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Authors: | Elena Cefis Stephanie Rosenkranz Utz Weitzel |
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Institution: | (1) University of Bergamo, Bergamo, Italy;(2) Utrecht School of Economics, Utrecht University, Janskerkhof 12, 3512 BL Utrecht, The Netherlands;(3) CEPR, London, UK |
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Abstract: | Using a game theoretical model on firms’ simultaneous investments in product and process R&D, we advance and empirically test
hypotheses on the role of externalities on the optimal R&D portfolio of cooperating firms and independently competing firms.
We use Community Innovation Survey data on 3,696 Italian manufacturing firms. In line with our model we find that members
of a group of firms invest significantly more into product, process, and aggregate R&D than independent firms. Further, their
R&D portfolios tend to show a higher product versus process ratio. However, with regard to R&D performance and efficiency
we find that independent firms are superior.
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Keywords: | Coordination R& D Innovation Efficiency Cost reduction Product differentiation |
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