Killing the Golden Goose? The Decline of Science in Corporate R&D / Ashish Arora, Sharon Belenzon, Andrea Patacconi.

Format:

Book

Author/Creator:

Arora, Ashish.

Contributor:

National Bureau of Economic Research.

Belenzon, Sharon.

Patacconi, Andrea.

Series:

Working Paper Series (National Bureau of Economic Research) no. w20902.

NBER working paper series no. w20902

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2015.

Summary:

Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations between 1980 and 2007. We find that publications by company scientists have declined over time in a range of industries. We also find that the value attributable to scientific research has dropped, whereas the value attributable to technical knowledge (as measured by patents) has remained stable. These effects appear to be associated with globalization and narrower firm scope, rather than changes in publication practices or a decline in the usefulness of science as an input into innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the scientific capabilities). These findings have important implications for both public policy and management.

Notes:

Print version record

January 2015.