A semi-parametric modeling of firms' R&amp;D expenditures with zero values

Yoo, Seung‐Hoon; Moon, Hye-Seon

doi:10.1007/s11192-006-0138-5

Cited by 3 publications

(7 citation statements)

References 9 publications

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“…First, following the logic of the two famous Schumpeter hypotheses, one would expect large firms and firms that possess market power to be more active in R&D. The results from this analysis show that even though the first hypothesis, that larger firms are more active in R&D, is true in Korea, the other hypothesis, that firms that possess market power are more active in R&D, is not true in Korea. This result is consistent with other studies of Korea (Lee and Hwang, 2003;Yoo and Moon, 2006). However, some foreign studies (Kamien and Schwartz, 1982;Acs and Audretsch, 1988;Link and Rees, 1990;Bhattacharya and Bloch, 2004) showed that small firms were more active in R&D. Therefore, our results reveal the need to improve external conditions for stimulating small firms' R&D activities in Korea.…”

supporting

confidence: 92%

“…These companies are supported by the Korean government both financially and managerially. According to the results of Yoo and Moon (2006), venture companies have a positive relation with R&D activities. In addition, in a knowledge-based economy, IT companies have played an important role in economic development.…”

Section: It and Venture Companiesmentioning

confidence: 99%

“…R&D activities of IT companies are more active than those of other companies. Yoo and Moon (2006) showed that R&D expenditure and R&D intensity of IT companies are higher than those of other companies in Korea. Lee and Hwang (2003) corroborates this finding.…”

Section: It and Venture Companiesmentioning

confidence: 99%

“…There has been much literature published since the 1960s (Comanor, 1965;Vernon and Gusen, 1974, etc.). Moreover, there have been some studies dealing with innovation and R&D activities in Korea (Nam, 1996;Lee and Hwang, 2003;Yoo and Moon, 2006). However, while such case studies of specific firms are of tremendous value in that they enhance the understanding of R&D activities, there is a need to complement these with a large sample of empirical analysis.…”

Section: Introductionmentioning

confidence: 99%

“…The specification implies that the stochastic process that determines the binary outcome to participate in consumption also determines the level of the dependent variables. Furthermore, Yoo and Moon (2006) applied symmetrically trimmed least squares estimation as a semi-parametric estimation of the Tobit model in order to form a model for firms' R&D expenditures with zero values. However, this method leaves the burden of differentiating between R&D and zero R&D expenditures to the distribution of the single stochastic component and may not be appropriate for modelling zero R&D expenditures (Cragg, 1971).…”

Section: Introductionmentioning

confidence: 99%

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Modelling R&D expenditure data with zero observations: two-equation model

2011

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This article attempts to analyse the determinants of firms' Research and Development (R&D) expenditures in Korea by considering the business environment after the economic crisis in 1997. In addition, to take into account zero R&D expenditure, this article employed a two-equation model unlike models used in other studies. This method incorporates a two-level decision structure: the participation decision and the decision on the amount to spend once the issue of participation has been decided. According to the estimation results, while the proposition that larger firms are more active in R&D is true, the proposition that firms that possess market power are more active in R&D is not true for Korea. Technical cooperation among Korean firms seems to be less active than in other countries. In addition, the results indicate that foreign investment stimulates the firms' R&D expenditure. Furthermore, a number of factors were found to play a role in promoting firms' R&D activities: the external conditions of the firms' R&D activities, including the location, other firms' R&D activities in the same industry, support from the government and technical support from research institutes.

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supporting

confidence: 92%

Section: It and Venture Companiesmentioning

confidence: 99%

Section: It and Venture Companiesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Modelling R&D expenditure data with zero observations: two-equation model

2011

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Exploring the position of cities in global corporate research and development: A bibliometric analysis by two different geographical approaches

Csomós

Tóth

2016

Journal of Informetrics

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Global cities are defined, on the one hand, as the major command and control centres of the world economy and, on the other hand, as the most significant sites of the production of innovation. As command and control centres, they are home to the headquarters of the most powerful MNCs of the global economy, while as sites for the production of innovation they are supposed to be the most important sites of corporate research and development (R&D) activities. In this paper, we conduct a bibliometric analysis of the data located in the Scopus and Forbes 2000 databases to reveal the correlation between the characteristics of the above global city definitions. We explore which cities are the major control points of the global corporate R&D (home city approach), and which cities are the most important sites of corporate R&D activities (host city approach). According to the home city approach we assign articles produced by companies to cities where the decision-making headquarters are located (i.e. to cities that control the companies' R&D activities), while according to the host city approach we assign articles to cities where the R&D activities are actually conducted. Given Sassen's global city concept, we expect global cities to be both the leading home cities and host cities.The results show that, in accordance with the global city concept, Tokyo, New York, London and Paris surpass other cities as command points of global corporate R&D (having 42 percent of companies' scientific articles). However, as sites of corporate R&D activities to be conducted, New York and Tokyo form a unique category (having 28 percent of the articles). The gap between San Jose and Boston, and the global cities has consistently narrowed because the formers are the leading centres of the fastest growing innovative industries (e.g. information technology and biotechnology) in the world economy, and important sites of international R&D activities within these industries. The emerging economies are singularly represented by Beijing; however, the position of Chinese capital (i.e. the number of its companies' scientific articles), has been strengthening rapidly.

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Mapping Spatial and Temporal Changes of Global Corporate Research and Development Activities by Conducting a Bibliometric Analysis

Csomós

2017

Quaestiones Geographicae

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. Mapping spatial and temporal changes of global corporate research and development activities by conducting a bibliometric analysis. Quaestiones Geographiceae 36(1), Bogucki Wydownictwo Naukowe, Poznań, pp. 65-77, 2 figs, 3 tables.AbstrACt: Corporate research and development (R&D) activities have long been highly concentrated in a handful of world cities. This is due to the fact that these cities (e.g., Tokyo, New York, London, and Paris) are home to the largest and most powerful transnational corporations and are globally important sites for innovative start-up firms that operate in the fastest growing industries. However, in tandem with the rapid technological changes of our age, corporate R&D activities have shifted towards newly emerging and now globally significant R&D centres, like San Jose, San Francisco, and Boston in the United States, and Beijing, Seoul, and Shenzhen in East Asia. In this paper, I will conduct a bibliometric analysis to define which cities are centres of corporate R&D activities, how different industries influence their performance, and what spatial tendencies characterise the period from 1980 to 2014. The bibliometric analysis is based upon an assumption that implies there is a close connection between the number of scientific articles published by a given firm and the volume of its R&D activity. Results show that firms headquartered in Tokyo, New York, London, and Paris published the largest combined number of scientific articles in the period from 1980 to 2014, but that the growth rate of the annual output of scientific articles was much greater in Boston, San Jose, Beijing, and Seoul, as well as some Taiwanese cities. Furthermore, it can also be seen that those cities that have the largest number of articles; i.e., that can be considered as the most significant sites of corporate R&D in which firms operate in fast-growing industries, are primarily in the pharmaceutical and information technology industries. For these reasons, some mid-sized cities that are home to globally significant pharmaceutical or information technology firms are also top corporate R&D hubs.

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A semi-parametric modeling of firms' R&D expenditures with zero values

Cited by 3 publications

References 9 publications

Modelling R&D expenditure data with zero observations: two-equation model

Modelling R&D expenditure data with zero observations: two-equation model

Exploring the position of cities in global corporate research and development: A bibliometric analysis by two different geographical approaches

Mapping Spatial and Temporal Changes of Global Corporate Research and Development Activities by Conducting a Bibliometric Analysis

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