Knowledge Spillovers and Corporate Investment in Scientific Research
Publication
, Journal Article
Arora, A; Belenzon, S; Sheer, L
Published in: American Economic Review
March 1, 2021
Using data on 800,000 corporate publications and patent citations to these publications between 1980 and 2015, we study how corporate investment in research is linked to its use in the firm’s inventions, and to spillovers to rivals. We find that private returns to corporate research depend on the balance between two opposing forces: the benefits from the use of science in own downstream inventions, and the costs of spillovers to rivals. Consistent with this, firms produce more research when it is used internally, but less research when it is used by rivals. As firms become more sensitive to rivals using their science, they are likely to reduce the share of research in R&D.
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Published In
American Economic Review
DOI
EISSN
1944-7981
ISSN
0002-8282
Publication Date
March 1, 2021
Volume
111
Issue
3
Start / End Page
871 / 898
Related Subject Headings
- Economics
- 38 Economics
- 35 Commerce, management, tourism and services
- 15 Commerce, Management, Tourism and Services
- 14 Economics
Citation
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Arora, A., Belenzon, S., & Sheer, L. (2021). Knowledge Spillovers and Corporate Investment in Scientific Research. American Economic Review, 111(3), 871–898. https://doi.org/10.1257/AER.20171742
Arora, A., S. Belenzon, and L. Sheer. “Knowledge Spillovers and Corporate Investment in Scientific Research.” American Economic Review 111, no. 3 (March 1, 2021): 871–98. https://doi.org/10.1257/AER.20171742.
Arora A, Belenzon S, Sheer L. Knowledge Spillovers and Corporate Investment in Scientific Research. American Economic Review. 2021 Mar 1;111(3):871–98.
Arora, A., et al. “Knowledge Spillovers and Corporate Investment in Scientific Research.” American Economic Review, vol. 111, no. 3, Mar. 2021, pp. 871–98. Scopus, doi:10.1257/AER.20171742.
Arora A, Belenzon S, Sheer L. Knowledge Spillovers and Corporate Investment in Scientific Research. American Economic Review. 2021 Mar 1;111(3):871–898.
Published In
American Economic Review
DOI
EISSN
1944-7981
ISSN
0002-8282
Publication Date
March 1, 2021
Volume
111
Issue
3
Start / End Page
871 / 898
Related Subject Headings
- Economics
- 38 Economics
- 35 Commerce, management, tourism and services
- 15 Commerce, Management, Tourism and Services
- 14 Economics