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The R&D and product...
The R&D and productivity relationship of Korean listed firms
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- Heshmati, Almas (författare)
- Department of Food and Resource Economics, College of Life Sciences and Biotechnology, Korea University, East Building #217, Anam-dong Seongbuk-gu, Seoul 136-701, South Korea
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- Kim, H. (författare)
- Department of Political Science, University of Rochester, Harkness Hall, Rochester, NY 14627-0146, United States
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(creator_code:org_t)
- 2011-01-06
- 2011
- Engelska.
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Ingår i: Journal of Productivity Analysis. - : Springer Science and Business Media LLC. - 0895-562X .- 1573-0441. ; 36:2, s. 125-142
- Relaterad länk:
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https://urn.kb.se/re...
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visa fler...
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https://doi.org/10.1...
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Abstract
Ämnesord
Stäng
- This study analyzes the relationship between R&D investment and the productivity of Korean R&D-engaged firms. An interdependent chain of equations including the propensity to invest, R&D investment and productivity are estimated in a multi-step procedure accounting for selectivity and simultaneity biases. Using Korean firm level panel data of listed firms from 1986 to 2002, we find four main empirical results. First, there is a two-way causal relationship between R&D investment and productivity for Korean listed firms. Second, Chaebol firms were associated with lower R&D growth as well as lower labor productivity growth in comparison to non-Chaebol firms. Third, there was a substantial reduction in growth rates both in R&D investment and labor productivity in 1997-1998, immediately following the Asian financial crisis. Fourth, considering the positive feedback effect from productivity growth to R&D growth, a decrease in R&D investment growth after the Asian financial crisis should have been harmful by further decreasing productivity growth. ©2011 Springer Science+Business Media, LLC.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Nyckelord
- Asian financial crisis; Chaebol; Productivity; R&D investment; Selectivity; Simultaneity
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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