The Effect of Public Science on Corporate R&D.

Autor/inn/en	Arora, Ashish; Belenzon, Sharon; Cioaca, Larisa C.; Sheer, Lia; Zhang, Hansen
Institution	National Bureau of Economic Research
Titel	The Effect of Public Science on Corporate R&D.
Quelle	Cambridge, Mass: National Bureau of Economic Research (2023) PDF als Volltext (1); PDF als Volltext (2) Link als defekt meldenVerfügbarkeit
Reihe	NBER working paper series. w31899
Beigaben	Illustrationen
Sprache	englisch
Dokumenttyp	online; Monographie; Graue Literatur
DOI	10.3386/w31899
Schlagwörter	Wissen; Forschung; Wissenstransfer; Erfindung; Technologiepolitik; Humankapital; Industrieforschung; Universität; Forschungsfinanzierung; Forschungskooperation; Hochschule; Arbeitspapier; USA
Abstract	We study the relationships between corporate R&D and three components of public science: knowledge, human capital, and invention. We identify the relationships through firm-specific exposure to changes in federal agency R/&D budgets that are driven by the political composition of congressional appropriations subcommittees. Our results indicate that R&D by established firms, which account for more than three-quarters of business R&D, is affected by scientific knowledge produced by universities only when the latter is embodied in inventions or PhD scientists. Human capital trained by universities fosters innovation in firms. However, inventions from universities and public research institutes substitute for corporate inventions and reduce the demand for internal research by corporations, perhaps reflecting downstream competition from startups that commercialize university inventions. Moreover, abstract knowledge advances per se elicit little or no response. Our findings question the belief that public science represents a non-rival public good that feeds into corporate R&D through knowledge spillovers.
Erfasst von	ZBW - Leibniz-Informationszentrum Wirtschaft, Kiel
Update	2024/1