Title :
Do R&D Spillovers substitute or complement R&D investment?
Author_Institution :
Guangdong Univ. of Finance, Guang Zhou, China
Abstract :
The paper had an empirical analysis of the impact of R&D spillovers on own R&D investment based on a model on R&D spillovers occurring between domestic intra-industry, domestic inter- industry, international intra-industry and international inter- industry and the use of panel data of 15 high-tech large and medium-sized industrial enterprises (three yards) during 1995-2010. We found that there exists complementary effect between own R&D investment and domestic intra-industry R&D spillovers of 15 high-tech industries in China. Domestic inter-industry R&D spillovers promote own R&D investment. More important, Complementary effects exist between international inter-industry R&D spillovers and own R&D investment. However, international intra-industry R&D spillovers hinders own R&D investment. there exists substitution effect between international intra-industry R&D spillovers and own R&D investment.
Keywords :
investment; research initiatives; small-to-medium enterprises; China; R and D investment; R and D spillovers; domestic inter-industry; domestic intra-industry; high-tech large enterprises; international inter-industry; international intra-industry; medium-sized industrial enterprises; research and development investment; research and development spillover; Context; Data models; Games; Government; Industries; Investments; Patents; R&D; R&D spillover; complementary effect; substitution effect;
Conference_Titel :
Information Management, Innovation Management and Industrial Engineering (ICIII), 2012 International Conference on
Conference_Location :
Sanya
Print_ISBN :
978-1-4673-1932-4
DOI :
10.1109/ICIII.2012.6339751
