Abstract
We investigate the relationship among R&D expenditures (corporate and industry), firm size, and sales performance, considering large US and Japanese firms in the 1980s. The elasticity of international sales with respect to corporate R&D expenditures is higher for the US firms than for the Japanese firms in the sample. In addition, the US firms in high-technology industries seem to be less internationally oriented than corresponding firms in Japan. Overall, the US firms do not appear to benefit consistently from the innovations of competitors within their own industry, while the Japanese firms in the sample appear to obtain benefits from the innovations of other firms, particularly with respect to export sales.
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