Title: Evidence on the Role of Ownership Structure on Firm's Innovative Performance
Authors: ORTEGA ARGILES RaquelMORENO Rosina
Citation: Research Institute of Applied Economics Working Papers no. 9 p. 1-25
Publisher: University of Barcelona
Publication Year: 2009
JRC Publication N°: JRC51091
URI: http://www.ub.edu/irea/working_papers/2009/200909.pdf
http://publications.jrc.ec.europa.eu/repository/handle/JRC51091
Type: Articles in Journals
Abstract: Based on the Knowledge Production Function framework given by Griliches (1979), we slightly modify it so that the innovative output depends upon a set of factors related to the firm internal characteristics and are influenced by the environment. Specifically, regarding the firm internal determinants the effect of the concentration of the ownership, the composition of the boards of directors and the effect of the nature of the ownership (foreign and public) are analyzed. Additionally, in order to capture the determinants of the environment in which the firm operates other variables concerning the internationalization of market, the agglomeration economies and the regional knowledge externalities are also considered. In order to assess the impact of these determinants on the number of patents and models of use awarded by the firm, the discreteness of the latter variable has to be taken into account. We apply Poisson and Negative Binomial models for a more comprehensive evaluation of the hypothesis in a panel of Spanish manufacturing firms. The results show patenting activity is positively favoured by being located in an environment with a high innovative activity, due to the existence of knowledge spillovers and agglomeration economies. JEL classification: D210, O310, G320. Keywords: Knowledge production function, patents, R&D, ownership, regions.
JRC Institute:Institute for Prospective Technological Studies

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