TY - JOUR
T1 - Effects of coordinated strategies on product and process R&D
AU - Cefis, Elena
AU - Rosenkranz, Stephanie
AU - Weitzel, Utz
PY - 2009/4/1
Y1 - 2009/4/1
N2 - Using a game theoretical model on firms' simultaneous investments in product and process R&D, we advance and empirically test hypotheses on the role of externalities on the optimal R&D portfolio of cooperating firms and independently competing firms. We use Community Innovation Survey data on 3,696 Italian manufacturing firms. In line with our model we find that members of a group of firms invest significantly more into product, process, and aggregate R&D than independent firms. Further, their R&D portfolios tend to show a higher product versus process ratio. However, with regard to R&D performance and efficiency we find that independent firms are superior.
AB - Using a game theoretical model on firms' simultaneous investments in product and process R&D, we advance and empirically test hypotheses on the role of externalities on the optimal R&D portfolio of cooperating firms and independently competing firms. We use Community Innovation Survey data on 3,696 Italian manufacturing firms. In line with our model we find that members of a group of firms invest significantly more into product, process, and aggregate R&D than independent firms. Further, their R&D portfolios tend to show a higher product versus process ratio. However, with regard to R&D performance and efficiency we find that independent firms are superior.
KW - Coordination
KW - Cost reduction
KW - Efficiency
KW - Innovation
KW - Product differentiation
KW - R&D
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U2 - 10.1007/s00712-008-0041-z
DO - 10.1007/s00712-008-0041-z
M3 - Article
AN - SCOPUS:64749104792
VL - 96
SP - 193
EP - 222
JO - Journal of Economics
JF - Journal of Economics
SN - 0931-8658
IS - 3
ER -