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Firm size and compositions of R&D expenditures: evidence from a panel of R&D performing manufacturing firms

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  • Joonhwan Choi
  • Jaegul Lee

Abstract

The effect of firm size on diverse compositions of R&D expenditures is analysed in detail using firm-level data on the Korean manufacturing sector. On the grounds that each type of R&D activity differs in terms of salability in disembodied form and growth potential due to innovation, a distinction between product vs. process, and new vs. incremental R&D is made. Empirical tests show that the firm size is significantly associated with both the new and incremental R&D. Moreover, firm size is found to be significantly associated with other types of R&D compositions such as the share of R&D devoted to incremental innovation and multidimensional combinations of product, process, new and incremental R&D. These findings support the idea that large firms possess innovative advantages over smaller firms and firm size is an important determinant for firms’ heterogeneous R&D activities. We also discuss the limitations and the implications of the findings.

Suggested Citation

  • Joonhwan Choi & Jaegul Lee, 2018. "Firm size and compositions of R&D expenditures: evidence from a panel of R&D performing manufacturing firms," Industry and Innovation, Taylor & Francis Journals, vol. 25(5), pages 459-481, May.
    • Handle: RePEc:taf:indinn:v:25:y:2018:i:5:p:459-481
    DOI: 10.1080/13662716.2017.1297222
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    Cited by:

    1. Piotr Dzikowski, 2022. "Product and process innovation patterns in Polish low and high technology systems," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 17(3), pages 747-773, September.
    2. Tieng Kimseng & Amna Javed & Chawalit Jeenanunta & Youji Kohda, 2020. "Applications of Fuzzy Logic to Reconfigure Human Resource Management Practices for Promoting Product Innovation in Formal and Non-Formal R&D Firms," JOItmC, MDPI, vol. 6(2), pages 1-20, May.
    3. Jian Xu & Jae-Woo Sim, 2018. "Characteristics of Corporate R&D Investment in Emerging Markets: Evidence from Manufacturing Industry in China and South Korea," Sustainability, MDPI, vol. 10(9), pages 1-18, August.
    4. Ardito, Lorenzo & Raby, Simon & Albino, Vito & Bertoldi, Bernardo, 2021. "The duality of digital and environmental orientations in the context of SMEs: Implications for innovation performance," Journal of Business Research, Elsevier, vol. 123(C), pages 44-56.

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