Autori
Montresor, Sandro
Vezzani, Antonio

Titolo
On the R&D giants' shoulders: do FDI help to stand on them?
Periodico
Economia e politica industriale
Anno: 2015 - Volume: 42 - Fascicolo: 1 - Pagina iniziale: 33 - Pagina finale: 60

We investigate the impact of outward Foreign Direct Investments (FDI) on the Multinational Corporations technological leadership, meant as the capacity of entering and remaining among the top Research & Development (R&D) world investors. The research hypotheses are formulated by distinguishing FDI in R&D from FDI in other economic activities. The findings support our hypotheses with respect to the top R&D circles of the European Industrial Research and Innovation Scoreboard. Increasing the number of FDI projects in R&D makes the entrance in these circles more probable. The same holds true for non-R&D FDI, but with a lower impact. The number of R&D–FDI also reduces the probability of exiting from the circles, while that of non-R&D ones does not. These results are robust when the value of FDI projects in R&D is considered, apart from their impact on the exit from the circles, which appears to vanish. Although with caveats, the policy support to R&D internationalization provides companies with a sustainable competitive advantage in the race for the most substantial R&D investments and for the entailed economic and financial benefits.



SICI: 0391-2078(2015)42:1<33:OTRGSD>2.0.ZU;2-3

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