Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms

Blundell, Richard; Griffith, Rachel; Reenen, John Van

doi:10.1111/1467-937x.00097

Cited by 1,256 publications

(910 citation statements)

References 31 publications

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“…Extending the standard ideal variety framework to a context with pharmaceutical R&D delivers predictions which are consistent with evidence that a higher intensity of competition may spur innovation (e.g., Blundell, Griffith and Van Reenen, 1999;Aghion et al, 2009). …”

Section: Related Literaturesupporting

confidence: 72%

Do cost-sharing and entry deregulation curb pharmaceutical innovation?

Grossmann

2013

Journal of Health Economics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. This paper examines the role of both cost-sharing schemes in health insurance systems and entry regulation for pharmaceutical R&D expenditure, drug prices, aggregate productivity, and income. The analysis suggests that both an increase in the coinsurance rate and stricter price regulations adversely affect R&D spending in the pharmaceutical sector. In contrast, entry deregulation may lead to quality-improvements of pharmaceuticals, despite reducing price-setting power of pharmaceutical companies. Extension to an endogenous growth context suggests that, when individual labor supply depends on health status, both cost-sharing and entry barriers in the pharmaceutical sector also affect aggregate productivity and wage rates. Terms of use: Documents in EconStor mayJEL-Code: I100, L100, O300.

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Section: Related Literaturesupporting

confidence: 72%

Do cost-sharing and entry deregulation curb pharmaceutical innovation?

Grossmann

2013

Journal of Health Economics

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“…This is because firms in declining industries experience diminishing return from localization economies (i.e. local labor, supplier, and knowledge spillover) [18], hence for staying innovative these firms need to refresh their knowledge stock through networks of international trade [39] [38]. Therefore, not only large firms in declining industries are more 'capable' of engaging in international trade, but also they are in fact 'in need' of such engagement.…”

Section: Determinants Of Innovation Propensitymentioning

confidence: 99%

Innovation determinants over industry life cycle

Tavassoli

2015

Technological Forecasting and Social Change

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This paper analyzes how the influence of firm-level innovation determinants varies over the industry life cycle. Two sets of determinants are distinguished: (1) determinants of a firm's innovation propensity, i.e. the likelihood of being innovative and (2) determinants of its innovation intensity, i.e. innovation sales. By combining the literature emphasizing firms' internal resources (micro level) with the research strand on the role of the industry context (mesolevel), the paper develops hypotheses about the relative importance of firm-level innovation determinants over the industry life cycle. Estimation of a firm-level model of innovation in Sweden, while acknowledging the stage of the life cycle of the industry a firms belongs to, shows that the importance of the determinants of innovation propensity and intensity are not equal over the stages of an industry's life cycle.

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“…17 The regulatory distance and the distance to export markets variables have a negative and statistically significant effect in both estimations. However, the coefficients are much larger than in the fixed effect estimations using the Hausman et al (1984) approach, possibly because country-pair fixed effects may not be properly accounted for using the Blundell et al (1999) approach.…”

Section: Alternative Estimatorsmentioning

confidence: 90%

“…Blundell et al (1999) argue that using a pre-sample mean scaling estimator is an attractive way of controlling for correlated unobserved heterogeneity when some of the explanatory variables are not strictly exogenous. We implement this method by including the pre-sample mean of the dependent variable, calculated over the period 1951 to 1991, as an additional explanatory variable.…”

Section: Alternative Estimatorsmentioning

confidence: 99%

Regulatory Distance and the Transfer of New Environmentally Sound Technologies: Evidence from the Automobile Sector

2012

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SummaryThis article examines the impact of environmental regulation within countries as well as regulatory distance between countries on international technology transfer. We employ a recently-assembled dataset of automobile emission standards and corresponding data on non-resident patent filing of automotive environmentally sound technologies (ESTs) in 49 countries between 1992 and 2007. Our analysis shows that an important factor shaping transfers is relative regulatory distance in that countries are more likely to receive newlyinnovated technologies from source countries whose regulatory standards are "closer" to their own. Absolute stringency matters as well, consistent with conventional wisdom, although raising domestic environmental standards as such only leads to higher inflows of ESTs in developing countries. Novel to the literature, we show that regulatory standards in the third markets of a country's trading partners also influence transfers: countries receive more ESTs from a specific source country where they export more to markets whose regulatory standards are similar to those of the source country of the transferred technologies. As concerns both domestic regulation and regulation in a country's major export markets, it is therefore regulatory distance that matters most rather than absolute regulatory levels. This article examines the impact of environmental regulation within countries as well as regulatory distance between countries on international technology transfer. We employ a recently-assembled dataset of automobile emission standards and corresponding data on non-resident patent filing of automotive environmentally sound technologies (ESTs) in 49 countries between 1992 and 2007. Our analysis shows that an important factor shaping transfers is relative regulatory distance in that countries are more likely to receive newly-innovated technologies from source countries whose regulatory standards are "closer" to their own. Absolute stringency matters as well, consistent with conventional wisdom, although raising domestic environmental standards as such only leads to higher inflows of ESTs in developing countries. Novel to the literature, we show that regulatory standards in the third markets of a country's trading partners also influence transfers: countries receive more ESTs from a specific source country where they export more to markets whose regulatory standards are similar to those of the source country of the transferred technologies. As concerns both domestic regulation and regulation in a country's major export markets, it is therefore regulatory distance that matters most rather than absolute regulatory levels. Keywords

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Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms

Cited by 1,256 publications

References 31 publications

Do cost-sharing and entry deregulation curb pharmaceutical innovation?

Do cost-sharing and entry deregulation curb pharmaceutical innovation?

Innovation determinants over industry life cycle

Regulatory Distance and the Transfer of New Environmentally Sound Technologies: Evidence from the Automobile Sector

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