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Determinants of R&D Activities by Start-up Firms: Evidence from Japan

Author

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  • Okamuro, Hiroyuki
  • 岡室, 博之
  • オカムロ, ヒロユキ

Abstract

The start-up of new businesses has been attracting considerable attention due to their potential contribution to innovation. However, there are few econometric studies on the determinants of R&D by start-up firms. Using firm-level, industry-level, and regional data, this paper examines the determinants of R&D investment by Japanese start-up firms in the manufacturing sector. Specifically, this study employs probit analysis on the probability of R&D investment and Tobit analysis on R&D intensity. Empirical results demonstrate that firm size and appropriability have significant positive impacts on both the probability of R&D investment and R&D intensity, while technological opportunity and the regional agglomeration of research institutes and human resources have significant positive effects on R&D intensity. These findings highlight the importance of regional intellectual infrastructure in promoting R&D of start-up firms.

Suggested Citation

  • Okamuro, Hiroyuki & 岡室, 博之 & オカムロ, ヒロユキ, 2006. "Determinants of R&D Activities by Start-up Firms: Evidence from Japan," CEI Working Paper Series 2006-2, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hitcei:2006-2
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    File URL: https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/13495/wp2006-2a.pdf
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    Cited by:

    1. Okamuro, Hiroyuki & Kato, Masatoshi & Honjo, Yuji, 2011. "Determinants of R&D cooperation in Japanese start-ups," Research Policy, Elsevier, vol. 40(5), pages 728-738, June.
    2. Yuji Honjo & Masatoshi Kato & Hiroyuki Okamuro, 2014. "R&D investment of start-up firms: does founders’ human capital matter?," Small Business Economics, Springer, vol. 42(2), pages 207-220, February.

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