Title:
The Maturation of Global Corporate R & D: Theory and Evidence
The Maturation of Global Corporate R & D: Theory and Evidence
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Author(s)
Hicks, Diana
Hegde, Deepak
Hegde, Deepak
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Abstract
This industry-level study examines the impact of foreign country factors like market size, technological strength, and science and engineering (S&E) capability on the conduct of U.S. overseas R&D during the 1991-2002 period. We find that while overseas markets primarily predict the entry of U.S. R&D, the S&E knowledge base of nations critically determines the level
and sophistication of U.S. foreign subsidiaries' innovative activity. We also find important interindustry differences: U.S. electrical, electronics, computers, and communication industries are strongly drawn towards overseas S&E capability; industries including machinery, automobiles, and transport equipment are primarily attracted by the technological strength of foreign nations; U.S. R&D in chemicals mostly follows overseas markets.
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Date Issued
2005
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Text
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Working Paper