Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data
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 f...
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| Format: | Journal Article |
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2016
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| Online Access: | http://hdl.handle.net/20.500.11937/16197 |
| _version_ | 1848749106698125312 |
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| author | Zhou, Yixiao |
| author_facet | Zhou, Yixiao |
| author_sort | Zhou, Yixiao |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | 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. |
| first_indexed | 2025-11-14T07:15:40Z |
| format | Journal Article |
| id | curtin-20.500.11937-16197 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:15:40Z |
| publishDate | 2016 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-161972017-09-13T15:56:21Z Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data Zhou, Yixiao 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. 2016 Journal Article http://hdl.handle.net/20.500.11937/16197 10.5539/ijef.v8n2p51 restricted |
| spellingShingle | Zhou, Yixiao Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data |
| title | Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data |
| title_full | Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data |
| title_fullStr | Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data |
| title_full_unstemmed | Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data |
| title_short | Drivers of globalization of R&D investment by U.S. multinational enterprises: Evidence from industry-level data |
| title_sort | drivers of globalization of r&d investment by u.s. multinational enterprises: evidence from industry-level data |
| url | http://hdl.handle.net/20.500.11937/16197 |