| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16592 |
| DP16592 The Rise of Scientific Research in Corporate America | |
| Ashish Arora; Sharon Belenzon; Jungkyu Suh; YIshay Yafeh | |
| 发表日期 | 2022-05-03 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Corporate science in America emerged in the interwar period, as some companies set up state-of-the-art corporate laboratories, hired trained scientists, and embarked upon basic research of the kind we would associate today with academic institutions. Using a newly assembled dataset on U.S. companies between 1900 and 1940 combining information on corporate ownership, organization, research and innovation, we attempt to explain the rise of corporate research. We argue that it was driven by companies trying to take advantage of opportunities for innovation made possible by scientific advances, while facing an underdeveloped academic research system in the United States: In line with this conjecture, we find that firms close to the technological frontier, operating in sectors where American universities were relatively underdeveloped, were more likely to initiate scientific research in response to rising scientific opportunities. We also find that firms that invested in scientific research were large, diversified and operated in concentrated industries, i.e., were able to capture significant rents from the provision of this public good. Indeed, corporate research was positively correlated with novel and valuable patents, and with high market-to-book ratios. |
| 主题 | Economic History ; Industrial Organization |
| 关键词 | Innovation Corporate science Us economic history Institutional voids |
| URL | https://cepr.org/publications/dp16592-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/546289 |
| 推荐引用方式 GB/T 7714 | Ashish Arora,Sharon Belenzon,Jungkyu Suh,et al. DP16592 The Rise of Scientific Research in Corporate America. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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