Defence and firm financial structure in France

Belin, Jean; Guille, Marianne

doi:10.1016/j.rfe.2007.02.002

Cited by 7 publications

(5 citation statements)

References 18 publications

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“…Moreover, Zhang and Van Den Bulcke (2014) partly explain Chinese companies' growing interest in establishing themselves in Europe due to the more indulgent attitude of European countries compared to the United States, where some acquisitions were abandoned when they encountered political opposition based on security concerns. Belin and Guille (2008), in a study carried out for the French Defense Ministry, show that innovative defense SMEs are choice targets. They are more likely to have foreign shareholders than other SMEs.…”

Section: A Resurgence In Studies Of Strategic Interestsmentioning

confidence: 99%

“…To provide a strategic advantage to their country, they have to develop very innovative and complex products and differentiate themselves from the competition. They have high levels of exports but at the same time are fairly constrained from a financial viewpoint (Belin and Guille, 2008) and dependent on public finance which tends to diminish in line with budgetary constraints.…”

Section: Macro and Micro -Economic Explanationsmentioning

confidence: 99%

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Shareholder nationality among the major European and American defense contractors: an exploratory data analysis

Fawaz

Belin²,

Masson³

2019

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This article presents the first results of a statistical analysis of the ownership links between the major European and American defence contractors. This approach, centred on the shareholders and subsidiaries of these companies, enables us to explore the depth of the national links (company and country of origin) and the density of the ownership cooperation that exists within Europe, as well as with the rest of the world, particularly the United States. Information about defence contractors’ ownership links is difficult to obtain and precautions must be taken in the interpretation of the results. In terms of defence contractor shareholders, it would appear first that the national link is strong for Sweden, Spain and France, less so for Germany and Italy, and particularly weak for the United Kingdom. Next, in European terms the links are concentrated on Airbus, MBDA and KNDS and are little developed in other companies. Finally, we observe asymmetrical links with the USA and a significant presence of American investment funds.

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Section: A Resurgence In Studies Of Strategic Interestsmentioning

confidence: 99%

Section: Macro and Micro -Economic Explanationsmentioning

confidence: 99%

Shareholder nationality among the major European and American defense contractors: an exploratory data analysis

Fawaz

Belin²,

Masson³

2019

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“…Beginning in the 1950s, defense policy, which focused on achieving strategic and technological autonomy and revolved around large projects using disruptive innovations, relied on large, usually public national defense groups (Mustar and Laredo 2002;Serfati 2001;Laperche et al 2008). Until the early 1990s, French defense firms still achieved more than half of the business R&D expenditure and received almost all direct public R&D funding (Belin and Guille 2008b). However, since the late 1980s, the NIS has greatly changed (Mowery, 2012) and the various players have had to adapt to these structural changes.…”

Section: -Faced With the New Nis Context Randd Firms Financed By The Dmentioning

confidence: 99%

“…Some exceptions include Mustar and Laredo (2002), Versailles (2005), Guille (2008a and2008b), James (2009) and Guillou et al (2009). However, these firms are major players in the NIS of a number of European countries, although their role has changed considerably over the last three decades (Mérindol and Versailles, 2010;Lazaric et al, 2011).…”

Section: Introductionmentioning

confidence: 99%

Defense Firms Adapting to Major Changes in the French R&D Funding System

Belin

Guille

Lazaric

et al. 2018

Defence and Peace Economics

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The structural changes inside the French innovation system have impacted the role of defense firms since the late 1980s. Major changes have affected the defense budget and public R&D funding system in particular. The aim of this article is to understand French defense firms' repositioning within the National Innovation System (NIS) based on an analysis of their R&D behavior over a long period of time (1987 to 2010). We show that French defense firms remain major players in the NIS and faced up to these major changes by adapting the funding of their R&D and their research priorities and rolling out new innovation capabilities. Additionally, they developed new innovation models to take advantage of new collaborative partnerships developed for civil and military markets.JEL classification: G32, 032

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“…Financial constraints are particularly severe in cases where firms are dependent on internal and public funding to finance this type of project. Indeed, this is often the case when there is a small number of buyers associated with a high risk and technological content, especially in defence R&D [11]. Correspondingly, R&D initiatives related to achieving MedCMs face the challenge of attracting large-and medium-sized manufacturers.…”

Section: Research and Development Process And Costsmentioning

confidence: 99%

Strengthening the Cost Effectiveness of Medical Countermeasure Development Against Rare Biological Threats: The Ebola Outbreak

et al. 2017

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Some chemical, biological, radiological, and nuclear agents, whether naturally, accidentally, or intentionally released, can be very damaging and pose a high risk to national security, owing to their potential for economic and social disruption. Efficacious pharmaceutical research and development could protect populations against such agents via new prophylactic drugs and vaccines or post-exposure treatment with antidotes and antimicrobials. However, because of the unpredictable nature of when, if ever, the health risks of specific chemical, biological, radiological, and nuclear agents might be realized, the development of medical countermeasures against these agents carries less promise of free market rewards to entice investment, and thus this development necessitates public funding or incentives. In terms of defining the level and targets of such public funding, the potential economic impact of any realized threat must be determined. This article first examines the specific components of market failure-research and development efforts vs. market rewards-associated with medical countermeasures against chemical, biological, radiological, and nuclear agents. Then, the latest natural outbreak of the Ebola virus disease is used as a case study to illustrate the risks that such biological agents can pose to social and economic structures. Rather than addressing risks associated with exposure from terrorist events, this case study highlights the potential to strengthen the case to fund relevant medical countermeasures for naturally occurring diseases with epidemic potential that could also impact Western countries owing to the consequences on their armed forces operating in the area of the outbreak, on trade, or even travelers who may disseminate the disease. To that end, causal factors that led to a lack of medical countermeasures prior to the 2014 outbreak are identified, then opportunities that could have triggered a re-evaluation as a threat worthy of high actionable concern are probed. Key PointsInappropriate preparedness with medical countermeasures against some rare but deadly agents, whether released naturally or intentionally by the human hand, can result in adverse economic consequences far exceeding the costs of strong and comprehensive preparedness initiatives.Given the difficulty to establish prioritization vs. threat assessment for intentional release, analysis for naturally occurring diseases that have the potential to cause catastrophic impact to society can strengthen the case for funding relevant medical countermeasures.

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Defence and firm financial structure in France

Cited by 7 publications

References 18 publications

Shareholder nationality among the major European and American defense contractors: an exploratory data analysis

Shareholder nationality among the major European and American defense contractors: an exploratory data analysis

Defense Firms Adapting to Major Changes in the French R&D Funding System

Strengthening the Cost Effectiveness of Medical Countermeasure Development Against Rare Biological Threats: The Ebola Outbreak

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