Research and Development and Intra-industry Spillovers: An Empirical Application of Dynamic Duality

Bernstein, Jeffrey I.; Nadiri, M. Ishaq

doi:10.2307/2297460

Cited by 304 publications

(113 citation statements)

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“…The role of spillovers in R&D has been empirically studied in (Henderson and Cockburn 1996), (Jaffe 1986), (Bernstein and Nadiri 1989) and recently in (Bloom, Schankerman, and Van Reenen 2013), among others,…”

Section: Introductionmentioning

confidence: 99%

Catching-up and falling behind: Effects of learning in an R&D differential game with spillovers

Bondarev

Greiner

2018

Journal of Economic Dynamics and Control

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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. Catching-up and falling behind: Effects of learning in an R&D differential game with spillovers Terms of use: Documents in EconStor mayIn this paper we analyze the dynamics of an R&D differential game allowing for technological spillovers and sigmoid learning functions of multiproduct oligopolies. We demonstrate how the presence of learning together with spillovers may generate a rich set of outcomes, varying from constant leadership to catching-up and falling behind as well as from technology lock-in to a situation with a large number of high quality products. These types of outcomes are qualitatively different both from the single firm dynamics with learning and from the duopoly case with spillovers and without learning.

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Section: Introductionmentioning

confidence: 99%

Catching-up and falling behind: Effects of learning in an R&D differential game with spillovers

Bondarev

Greiner

2018

Journal of Economic Dynamics and Control

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“…Considerable knowledge spillovers could be generated through involuntary leakage (e.g., learning and imitation, upstream and downstream linkages, and mobility of workers) and voluntary transmission (e.g., technological licensing and R&D alliances). The diffusion of such beneficial externalities allows peers of the innovators to acquire technology at a lower cost than the cost of inventing it to enhance their productivity and innovative capability (Jaffe, 1986 and1988) ---even in an environment of strict intellectual property protection (Bernstein and Nadiri, 1989;Grilliches, 1979;Jaffe et al, 1993). 2 Meanwhile, innovations create significant product market threats by strengthening the inventors' competitive advantages and triggering market share reallocations.…”

Section: Introductionmentioning

confidence: 99%

Technology spillovers and corporate cash holdings

Qiu

Wan

2015

Journal of Financial Economics

136

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This study examines the effect of technology spillovers on firms' cash holdings. It finds that firms facing greater technology spillovers hold higher cash balances. This effect is more pronounced among financially constrained firms and for firms that are likely to benefit more from diffused technology, e.g., those have newer patents, are more profitable, face better growth opportunities and are associated with greater product market fluidity. The spillover impact remains strong when product market competition and own-firm innovations are accounted for. Overall, our study identifies technology spillovers as an important factor in determining corporate cash policy.Keywords: technology spillovers, product market competition, cash holdings JEL Classifications: G32, G35, L10 1 Qiu is from McMaster University. Wan is from University of Massachusetts Boston. We are grateful for the comments by Gerard Hoberg and Kai Li. We thank an anonymous referee for constructive comments. Qiu acknowledges financial support from the Social Science and Humanity Research Commission. Technology Spillovers and Corporate Cash Holdings AbstractThis study examines the effect of technology spillovers on firms' cash holdings. It finds that firms facing greater technology spillovers hold higher cash balances. This effect is more pronounced among financially constrained firms and for firms that are likely to benefit more from diffused technology, e.g., those have newer patents, are more profitable, face better growth opportunities and are associated with greater product market fluidity. The spillover impact remains strong when product market competition and own-firm innovations are accounted for. Overall, our study identifies technology spillovers as an important factor in determining corporate cash policy.

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“…The first one was employed by Bernstein and Nadiri (1989), who built the pool of knowledge external to a firm as the unweighted sum of the R&D spending by other firms in the same industry. The total unweighted stock of R&D spillovers (TU i ) is computed as follows:…”

Section: Framework To Formalize the Randd Spillovers: A Review Of The Lmentioning

confidence: 99%

Absorptive Capacity and Knowledge Flows for Large International Firms: A Survey

2011

CBR

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The main objective of this paper is that of surveying both theoretic and econometric models exploring the existence of knowledge spillovers and quantifying firm's ability to identify, assimilate, and exploit existing information (absorptive capacity). In so doing, we explore different methodologies through which we may analyze the knowledge transmission: both the production function approach and the knowledge function approach. In order to construct the spillover stocks, different dimensions are considered: geographic and technological.

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Research and Development and Intra-industry Spillovers: An Empirical Application of Dynamic Duality

Abstract: The research reported here is part of the NBER's research program in Productivity. Any opinions expressed are those of the authors and not those of the National Bureau of Economic Research.

Cited by 304 publications

References 25 publications

Catching-up and falling behind: Effects of learning in an R&D differential game with spillovers

Catching-up and falling behind: Effects of learning in an R&D differential game with spillovers

Technology spillovers and corporate cash holdings

Absorptive Capacity and Knowledge Flows for Large International Firms: A Survey

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