Foreign Ownership and Firm Innovation: Evidence from Korea

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2019-06-24 DOI:10.1080/1226508X.2019.1632729

D. Joe, Frederick Dongchuhl Oh, H. Yoo

引用次数: 11

Abstract

ABSTRACT This study examines whether foreign equity investment promotes domestic firms’ innovation activities. Using panel data on the Korean firms during the 1999–2013 period, we find that foreign ownership has a positive effect on firms’ innovation activities. Furthermore, we also show that, as compared to non-chaebol firms, chaebol firms’ innovation activity becomes much greater with the increase of foreign ownership. Finally, we investigate industry-level spillover effects of innovation. Specifically, we find that foreign ownership promotes innovation activities via forward linkage, the effect of which is also more pronounced in chaebol firms.

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外资所有权与企业创新:来自韩国的证据

摘要本研究考察外资股权投资是否促进了国内企业的创新活动。利用1999-2013年韩国企业的面板数据，我们发现外资所有权对企业创新活动有积极影响。此外，我们还表明，与非财阀企业相比，财阀企业的创新活动随着外资所有权的增加而变得更大。最后，我们考察了产业层面的创新溢出效应。具体而言，我们发现外资所有权通过前向联系促进创新活动，这种效应在财阀企业中也更为明显。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.