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Does R%D investment affect export intensity? The moderating effect of ownership

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  • Mario Ossorio

Abstract

The present work aims to highlight the relationship between R%D investment and firms' internationalisation degree and to investigate whether family ownership and state ownership exert a moderating role on the abovementioned relationship. Based on a sample of 106 Italian listed firms during the period 2010-2013, this study finds that R%D investment has a positive impact on the ratio of sales in foreign countries to total sales. Furthermore, family ownership positively influences the relationship between R%D investment and firms' internationalisation degree because of patient capital and family owners' altruism. Conversely, the findings show that state ownership negatively affects the relationship under examination because state-owned enterprises (SOEs) operate in domestic protected markets and are characterised by severe agency conflicts and low competitiveness.

Suggested Citation

  • Mario Ossorio, 2018. "Does R%D investment affect export intensity? The moderating effect of ownership," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 10(1), pages 65-83.
    • Handle: RePEc:ids:injmfa:v:10:y:2018:i:1:p:65-83
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    Citations

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    Cited by:

    1. Wu, Lichao & Wei, Yingqi & Wang, Chengang, 2021. "Disentangling the effects of business groups in the innovation-export relationship," Research Policy, Elsevier, vol. 50(1).
    2. Peng Xu & Heng Zhang & Guiyu Bai, 2019. "Research on the Differentiated Impact Mechanism of Parent Company Shareholding and Managerial Ownership on Subsidiary Responsive Innovation: Empirical Analysis Based on ‘Principal–Agent’ Framework," Sustainability, MDPI, vol. 11(19), pages 1-17, September.
    3. Goel Aditi & Gaur Dolly & Gupta Khushboo & Gupta Kanishka, 2023. "Factors impacting export intensity of SMEs in India," Economics and Business Review, Sciendo, vol. 9(3), pages 22-43, October.
    4. María del Pilar Casado-Belmonte & María de las Mercedes Capobianco-Uriarte & Rubén Martínez-Alonso & María J. Martínez-Romero, 2021. "Delineating the Path of Family Firm Innovation: Mapping the Scientific Structure," Review of Managerial Science, Springer, vol. 15(8), pages 2455-2499, November.
    5. Wu, Lichao & Wei, Yingqi & Wang, Chengang & McDonald, Frank & Han, Xia, 2022. "The importance of institutional and financial resources for export performance associated with technological innovation," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    6. Leung, T.Y. & Sharma, Piyush, 2021. "Differences in the impact of R&D intensity and R&D internationalization on firm performance – Mediating role of innovation performance," Journal of Business Research, Elsevier, vol. 131(C), pages 81-91.
    7. Chunhuan Xiao & Ziyin Zhuang & Amei Feng, 2021. "OFDI Entry Modes and Firms’ Innovation: Evidence from Chinese A-Share Listed Firms," Sustainability, MDPI, vol. 13(14), pages 1-17, July.
    8. Espeche, José Francisco Tragant & Sacristán-Navarro, María & Zúñiga-Vicente, José Ángel & Crespo, Nuno Fernandes, 2023. "Innovation and internationalisation during times of economic growth, crisis, and recovery prior to Covid-19: A configurational approach comparing Spanish manufacturing family and non-family firms," Journal of Family Business Strategy, Elsevier, vol. 14(1).

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