Does business group affiliation encourage R&D activities? Evidence from India

被引：22
作者：
Komera, Surenderrao [1 ]
Lukose, P. J. Jijo [2 ]
Sasidharan, Subash [3 ]
机构：
[1] IFMR, 5655 Cent Expressway,Sect 24, Sri City 517541, Andhra Pradesh, India
[2] Indian Inst Management Kozhikode, Kozhikode 673570, Kerala, India
[3] Indian Inst Technol Madras, Dept Humanities & Social Sci, Madras 600036, Tamil Nadu, India
来源：
ASIA PACIFIC JOURNAL OF MANAGEMENT | 2018年 / 35卷 / 04期
关键词：
R&D investment; Business groups; Diversification; India; FIRM PERFORMANCE; INSTITUTIONAL INVESTORS; CORPORATE GOVERNANCE; EMERGING MARKETS; DIVERSIFICATION STRATEGY; DEVELOPMENT INVESTMENTS; OWNERSHIP STRUCTURES; MATCHING ESTIMATORS; INNOVATION; IMPACT;
D O I：
10.1007/s10490-017-9530-3
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
The decision to undertake investment in innovative activities is an important strategic choice made by firms. This study investigates the relationship between business group (BG) affiliation and research & development (R&D) activities of Indian firms. Using an empirical approach that accounts for endogeneity and selection bias, we observe that BG affiliation has significant positive influence on the sample firms' R&D activities. Employing various proxies for institutional development, we show that the effect of BG affiliation on R&D declines with the improvements in institutional and regulatory mechanisms. Further, this study explores the linkages between diversification strategies at the group level and R&D investments by firms affiliated with BGs. Results show that degree of related diversification is positively associated with the affiliates' innovation efforts.
引用
收藏
页码：887 / 917
页数：31
相关论文
共 111 条
[91]   Diversification strategies and firm performance in Vietnam Evidence from parametric and semi-parametric approaches [J].
Santarelli, Enrico ;
Hien Thu Tran .
ECONOMICS OF TRANSITION, 2016, 24 (01) :31-68
[92]  
Sarkar J, 2013, CORP GOV-OXFORD, P217
[93]  
Sarkar J., 2000, INT REV FINANC, V1, P161, DOI [10.1111/1468-2443.00010, DOI 10.1111/1468-2443.00010]
[94]  
Sarkar Jayati., 2010, The Oxford Handbook of Business Groups
[95]  
Schneider B, 2008, COMP POLIT, V40, P379
[96]   Estimating panel data models in the presence of endogeneity and selection [J].
Semykina, Anastasia ;
Wooldridge, Jeffrey M. .
JOURNAL OF ECONOMETRICS, 2010, 157 (02) :375-380
[97]   Firm boundaries matter: Evidence from conglomerates and R&D activity [J].
Seru, Amit .
JOURNAL OF FINANCIAL ECONOMICS, 2014, 111 (02) :381-405
[98]  
Sheffi Y., 2005, RESILIENT ENTERPRISE
[99]   VALUE MAXIMIZATION AND THE ACQUISITION PROCESS [J].
SHLEIFER, A ;
VISHNY, RW .
JOURNAL OF ECONOMIC PERSPECTIVES, 1988, 2 (01) :7-20
[100]   IN-HOUSE R-AND-D, IMPORTED TECHNOLOGY, AND FIRM SIZE - LESSONS FROM INDIAN EXPERIENCE [J].
SIDDHARTHAN, NS .
DEVELOPING ECONOMIES, 1988, 26 (03) :212-221
3456789101112