Scandinavian Working Papers in Economics

Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

No 27: Innovation Behaviour and Productivity Performance in the Nordic Region Does Foreign Ownership Matter?

Bernd Ebersberger () and Hans Lööf ()
Additional contact information
Bernd Ebersberger: Technology Analysis & Innovation Strategies, Fraunhofer Institute for Systems and Innovation, Postal: Technology Analysis & Innovation Strategies, Fraunhofer Institute for Systems and Innovation, Research, Breslauer Str. 48, D-76139 Karlsruhe, Germany.,
Hans Lööf: CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology, Postal: CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology, SE-100 44 Stockholm, Sweden

Abstract: This paper addresses the involvement of foreign companies in domestic economies; the relative engagement of foreign-owned companies in R&D-activities; the relative embeddedness in various national innovation systems and the relative output performance from R&D and innovation. A comparison is made between the innovation and productivity of foreign owned enterprises, of different corporate styles, (Nordic, Anglo-Saxon and Continental European) and the different corporate structures of domestically owned firms (multinational and uninational). Using 5 186 firm level observations from Denmark, Finland, Norway and Sweden, and based on the international harmonized Community Innovation Survey and uniform econometric approaches; the study confirms previous findings, presents new results and identifies country, corporate style and corporate governance differences. Some new lights is also shed on a seemingly paradoxical relationship between R&D and innovation, and between R&D and productivity.

Keywords: Multinational enterprises; Take-Over; Corporate governance; Cross-country comparison; Spillovers; R&D; Innovation; Productivity

JEL-codes: C31; D21; F23; G34; L22; O31; O33

31 pages, March 18, 2005

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