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来源类型Working Paper
规范类型报告
DOI10.3386/w29260
来源IDWorking Paper 29260
The Rise of Scientific Research in Corporate America
Ashish Arora; Sharon Belenzon; Konstantin Kosenko; Jungkyu Suh; Yishay Yafeh
发表日期2021-09-20
出版年2021
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 1926 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 and an underdeveloped academic research system in the United States. Measuring field-specific scientific backwardness in several different ways, we find that large firms, business group affiliated firms, and firms close to the technological frontier were more likely to initiate scientific research. We also find that companies in monopolistic or concentrated industries were more likely to engage in basic research. Corporate research was positively correlated with novel and valuable patents, and with market-to-book ratios. For companies choosing to do so, investment in corporate research seems to have paid off. The results shed light on the link between corporate organization, market structure and corporate science.
主题History ; Other History ; Development and Growth ; Innovation and R& ; D
URLhttps://www.nber.org/papers/w29260
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/586934
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Ashish Arora,Sharon Belenzon,Konstantin Kosenko,et al. The Rise of Scientific Research in Corporate America. 2021.
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