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| Tekijä: | Munari, F. Oriani, R. |
| Otsikko: | Privatization and economic returns to R & D investments |
| Lehti: | Industrial and Corporate Change
2005 : FEB, VOL. 14:1, p. 61-91 |
| Asiasana: | Investments Privatization R&D |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the effect of privatization on firm's expected research & development economic performance. The effects of R & D investments on market value of privatized firms in Western Europe are explored. It is shown that the impact is systematically stronger for privately owned firms as compared to privatized companies. The market valuation of R & D investments increases over time for privatized firms. This supports the hypothesis that organizational inertia postpones the impact of privatization on firms' R & D performance. |
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