Efficiency, R&D and ownership – some empirical evidence
Investments in R&D create an immaterial capital asset, which is expected to have a positive influence on firms’ efficiency and consequently on their profit. Nonetheless, the short-term effects of current investments in R&D are difficult to prove. Therefore, this paper focuses on analyses bas...
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Veröffentlicht in: | International journal of production economics 2003-01, Vol.83 (1), p.85-94 |
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Format: | Artikel |
Sprache: | eng |
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Zusammenfassung: | Investments in R&D create an immaterial capital asset, which is expected to have a positive influence on firms’ efficiency and consequently on their profit. Nonetheless, the short-term effects of current investments in R&D are difficult to prove. Therefore, this paper focuses on analyses based on the technical efficiency methodology using a stochastic frontier approach in order to investigate the influence of R&D activities on the technical efficiency of the firms. Using a sample of 2370 Danish firms, the analysis suggests that R&D-active firms are significantly more efficient than other firms. The legal form of ownership also affects the efficiency significantly, whereas firms owned by large shareholders – who are expected to exert a disciplinary influence on the managers of the firm – do not seem to be more efficient than other firms. |
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ISSN: | 0925-5273 1873-7579 |
DOI: | 10.1016/S0925-5273(02)00302-X |