Replication data for: Innovation and Foreign Ownership

Principal Investigator(s): View help for Principal Investigator(s) Maria Guadalupe; Olga Kuzmina; Catherine Thomas

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20101394Innovation_and_Foreign_Ownership_DATA			10/11/2019 06:08:PM
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Project Citation:

Guadalupe, Maria, Kuzmina, Olga, and Thomas, Catherine. Replication data for: Innovation and Foreign Ownership. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112578V1

Project Description

Summary: This paper uses a rich panel dataset of Spanish manufacturing firms (1990-2006) and a propensity score reweighting estimator to show that multinational firms acquire the most productive domestic firms, which, on acquisition, conduct more product and process innovation (simultaneously adopting new machines and organizational practices) and adopt foreign technologies, leading to higher productivity. We propose a model of endogenous selection and innovation in heterogeneous firms that explains both the observed selection patterns and the innovation decisions. Further, we show in the data that innovation upon acquisition is associated with the increased market scale provided by the parent firm.

Scope of Project

JEL Classification:
      D22 Firm Behavior: Empirical Analysis
      D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
      F23 Multinational Firms; International Business
      G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
      L60 Industry Studies: Manufacturing: General
      O31 Innovation and Invention: Processes and Incentives

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Published Versions

V1 [2019-10-11]

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