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dc.contributor.authorZhou, Yixiao
dc.date.accessioned2017-01-30T11:54:24Z
dc.date.available2017-01-30T11:54:24Z
dc.date.created2016-02-28T19:30:32Z
dc.date.issued2016
dc.identifier.citationZhou, Y. 2016. Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data. International Journal of Economics and Finance. 8 (2): pp. 51-69.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/16197
dc.identifier.doi10.5539/ijef.v8n2p51
dc.description.abstract

Existing country-level and firm-level studies have shed light on the mechanisms driving the globalization of R&D investment by multinational enterprises. However, there is a lack of industry-level evidence on this issue, which is much needed for the robustness of the theoretical and conceptual framework developed from country- and firm-level studies. Therefore, this study examines the determinants of overseas R&D investment by multinational enterprises from a single country, the United States, using an industry-level panel dataset. This study covers U.S. multinational enterprises in seven two-digit-level North American Industry Classification System (NAICS) manufacturing industries in twenty-three countries over the period 1999-2008. The empirical findings suggest that technology-seeking motive, technology-adaptation motive, and access to an abundant pool of researchers exert positive impact on the R&D intensity of U.S.-based multinational enterprises in a host country. The roles of investment position, institutional quality and distance are not found to be robust. These findings are largely consistent with the current theoretical understanding on R&D globalization by multinational enterprises. The findings point to the need for policies that strengthen domestic R&D stock, enhance human capital endowment and support a domestic market that is open to the world in order to attract overseas R&D investment by multinational enterprises.

dc.titleDrivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data
dc.typeJournal Article
dcterms.source.volume8
dcterms.source.number2
dcterms.source.startPage51
dcterms.source.endPage69
dcterms.source.issn1916-9728
dcterms.source.titleInternational Journal of Economics and Finance
curtin.departmentDepartment of Economics & Property
curtin.accessStatusFulltext not available


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