IDEAS home Printed from https://ideas.repec.org/a/wly/mgtdec/v26y2005i1p39-50.html
   My bibliography  Save this article

A comparison of ownership structures and innovations of US and Japanese firms

Author

Listed:
  • Peggy M. Lee

    (Goizueta Business School, Emory University, USA)

Abstract

This study analyzes the impact of ownership structure on innovation in the US and Japan. Agency theory is used to develop links between the distinct patterns of ownership in the US and Japan to differences in innovation. Empirical evidence shows that ownership concentration and the identity of the investors with large ownership positions affects innovation. This relationship differs across the two countries. Copyright © 2005 John Wiley & Sons, Ltd.

Suggested Citation

  • Peggy M. Lee, 2005. "A comparison of ownership structures and innovations of US and Japanese firms," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 39-50.
    • Handle: RePEc:wly:mgtdec:v:26:y:2005:i:1:p:39-50
    DOI: 10.1002/mde.1188
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1002/mde.1188
    File Function: Link to full text; subscription required
    Download Restriction: no
    File URL: https://libkey.io/10.1002/mde.1188?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Hall, Bronwyn H & Griliches, Zvi & Hausman, Jerry A, 1986. "Patents and R and D: Is There a Lag?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(2), pages 265-283, June.
    2. Peggy M. Lee, 1997. "A comparative analysis of layoff announcements and stock price reactions in the United States and Japan," Strategic Management Journal, Wiley Blackwell, vol. 18(11), pages 879-894, December.
    3. Masaaki Kotabe, 1992. "A Comparative Study of U.S. and Japanese Patent Systems," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 23(1), pages 147-168, March.
    4. Patel, Pari & Pavitt, Keith, 1997. "The technological competencies of the world's largest firms: Complex and path-dependent, but not much variety," Research Policy, Elsevier, vol. 26(2), pages 141-156, May.
    5. Sriraman Bhoovaraghavan & Ashok Vasudevan & Rajan Chandran, 1996. "Resolving the Process vs. Product Innovation Dilemma: A Consumer Choice Theoretic Approach," Management Science, INFORMS, vol. 42(2), pages 232-246, February.
    6. Lee Branstetter, 1996. "Are Knowledge Spillovers International or Intranational in Scope? Microeconometric Evidence from the Japan and the United States," NBER Working Papers 5800, National Bureau of Economic Research, Inc.
    7. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1984. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc.
    8. Alfred D. Chandler, 1969. "Strategy and Structure: Chapters in the History of the American Industrial Enterprise," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262530090, April.
    9. McConnell, John J. & Muscarella, Chris J., 1985. "Corporate capital expenditure decisions and the market value of the firm," Journal of Financial Economics, Elsevier, vol. 14(3), pages 399-422, September.
    10. Bebchuk, Lucian Arye & Stole, Lars A, 1993. "Do Short-Term Objectives Lead to Under- or Overinvestment in Long-Term Projects?," Journal of Finance, American Finance Association, vol. 48(2), pages 719-729, June.
    11. S.A. Lippman & R.P. Rumelt, 1982. "Uncertain Imitability: An Analysis of Interfirm Differences in Efficiency under Competition," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 418-438, Autumn.
    12. C. K. Prahalad, 1994. "Corporate Governance Or Corporate Value Added?: Rethinking The Primacy Of Shareholder Value," Journal of Applied Corporate Finance, Morgan Stanley, vol. 6(4), pages 40-50, January.
    13. Bhagat, Sanjai & Welch, Ivo, 1995. "Corporate research & development investments international comparisons," Journal of Accounting and Economics, Elsevier, vol. 19(2-3), pages 443-470, April.
    14. Richard C. Levin & Alvin K. Klevorick & Richard R. Nelson & Sidney G. Winter, 1987. "Appropriating the Returns from Industrial Research and Development," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(3, Specia), pages 783-832.
    15. Smith, Michael P, 1996. "Shareholder Activism by Institutional Investors: Evidence for CalPERS," Journal of Finance, American Finance Association, vol. 51(1), pages 227-252, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bronwyn Hall, 2004. "The financing of research and development," Chapters, in: Anthony Bartzokas & Sunil Mani (ed.), Financial Systems, Corporate Investment in Innovation, and Venture Capital, chapter 2, Edward Elgar Publishing.
    2. Antonelli, Cristiano & Krafft, Jackie & Quatraro, Francesco, 2010. "Recombinant knowledge and growth: The case of ICTs," Structural Change and Economic Dynamics, Elsevier, vol. 21(1), pages 50-69, March.
    3. Francesco Quatraro, 2009. "Innovation, structural change and productivity growth: evidence from Italian regions, 1980--2003," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(5), pages 1001-1022, September.
    4. Hall, Bronwyn H. & Ham Ziedonis, Rosemarie, 1999. "Patent Paradox Revisited: Determinants of Patenting in the U.S. Semiconductor Industry, 1980-94," Department of Economics, Working Paper Series qt1rg1088v, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    5. Danguy, Jérôme & de Rassenfosse, Gaétan & van Pottelsberghe de la Potterie, Bruno, 2010. "The R&D-patent relationship: An industry perspective," EIB Papers 7/2009, European Investment Bank, Economics Department.
    6. Hall, Bronwyn H. & Lerner, Josh, 2010. "The Financing of R&D and Innovation," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 609-639, Elsevier.
    7. Ernst, Holger, 1998. "Industrial research as a source of important patents," Research Policy, Elsevier, vol. 27(1), pages 1-15, May.
    8. Mehdi Nehkili & Evelyne Poincelot, 2000. "La fonction R&D et la latitude managériale: une analyse théorique," Revue Finance Contrôle Stratégie, revues.org, vol. 3(1), pages 5-28, March.
    9. Bronwyn Hall & Jacques Mairesse, 2006. "Empirical studies of innovation in the knowledge-driven economy," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(4-5), pages 289-299.
    10. Lee Branstetter, 1996. "Are Knowledge Spillovers International or Intranational in Scope? Microeconometric Evidence from the Japan and the United States," NBER Working Papers 5800, National Bureau of Economic Research, Inc.
    11. Kaiser, Ulrich & Kuhn, Johan M., 2012. "Long-run effects of public–private research joint ventures: The case of the Danish Innovation Consortia support scheme," Research Policy, Elsevier, vol. 41(5), pages 913-927.
    12. Wladimir Raymond & Pierre Mohnen & Franz Palm & Sybrand Schim van der Loeff, 2009. "Innovative Sales, R&D and Total Innovation Expenditures: Panel Evidence on their Dynamics," CESifo Working Paper Series 2716, CESifo.
    13. Alexandre Almeida & Aurora A.C. Teixeira, 2007. "Does Patenting negatively impact on R&D investment?An international panel data assessment," FEP Working Papers 255, Universidade do Porto, Faculdade de Economia do Porto.
    14. Czarnitzki, Dirk, 2009. "The virtue of industry-science collaborations," EIB Papers 5/2009, European Investment Bank, Economics Department.
    15. van Ark, Bart & Hao, Janet X. & Corrado, Carol & Hulten, Charles, 2009. "Measuring intangible capital and its contribution to economic growth in Europe," EIB Papers 3/2009, European Investment Bank, Economics Department.
    16. Mark Schankerman, 1991. "How Valuable is Patent Protection? Estimates By Technology Field Using Patent Renewal Data," NBER Working Papers 3780, National Bureau of Economic Research, Inc.
    17. Li, Xibao, 2012. "Behind the recent surge of Chinese patenting: An institutional view," Research Policy, Elsevier, vol. 41(1), pages 236-249.
    18. Jérôme Danguy & Gaetan de Rassenfosse & Bruno van Pottelsberghe de la Potterie, 2014. "On the origins of the worldwide surge in patenting: an industry perspective on the R&D–patent relationship," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 23(2), pages 535-572.
    19. Francesco Quatraro, 2009. "Diffusion of Regional Innovation Capabilities: Evidence from Italian Patent Data," Regional Studies, Taylor & Francis Journals, vol. 43(10), pages 1333-1348, December.
    20. Ientile, Damien & Mairesse, Jacques, 2009. "A policy to boost R&D: Does the R&D tax credit work?," EIB Papers 6/2009, European Investment Bank, Economics Department.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:mgtdec:v:26:y:2005:i:1:p:39-50. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www3.interscience.wiley.com/cgi-bin/jhome/7976 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.