Abstract
The aim of this study is that of further exploring the knowledge spillover effects of Large International firms. In particular, we implement a spatial analysis in United States, Japan and Europe. We use technological vectors of firms to compute Jaffe proximity measure in such a way that we get knowledge externalities relative to different countries. To our end, we estimate the spatial-autoregressive model where we consider also additional endogenous variables. The findings demonstrate the significant positive effect predicted by the core literature about this topic.
Highlights
There are two relevant notions of potential Spillovers in literature (Griliches, 1979)
We introduce a spatial approach, by assuming that R&D expenditures of each firm are affected by the expenditures of nearby firms
After an accurate cleaning procedure of raw data, we identify a sample of 625 firms for 2010 year, useful to implement a spatial analysis
Summary
There are two relevant notions of potential Spillovers in literature (Griliches, 1979). The second type of spillovers considers the knowledge created and transferable across firms or countries (Aldieri, 2011). We find many works that analyse the technology externalities in the empirical literature. The main objective of this work is to explore the spatial dimension of the knowledge interactions between large international firms. To this end, we introduce a spatial approach, by assuming that R&D expenditures of each firm are affected by the expenditures of nearby firms. Our aim is to contribute to existing literature on the knowledge spillover effects of Large International firms, by developing the spatial-autoregressive model where we consider additional endogenous variables.
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