Do firm sizes matter for R&D efficiency: evidence for a stochastic metafrontier model Online publication date: Tue, 19-Jan-2016
by Wen-Cheng Lu
International Journal of Technology Intelligence and Planning (IJTIP), Vol. 11, No. 1, 2016
Abstract: This paper employs the concepts of metafrontier, group frontiers and technology gap ratio for the purpose of investigating differences in R&D efficiency across groups of firms. The study finds that R&D employees, physical capital, R&D expenditure and patent citations are important to produce patents. Large firms with more R&D manpower are associated with higher R&D efficiency. The estimated output elasticity for R&D expenditure input and physical capital input for large firms is higher than that for small firms. The estimated output elasticity for patent citation input in a large firm sample is slightly smaller than that in a small firm sample. Small firm groups are much closer to metafrontier than large firm groups. Small firms have higher R&D efficiency than large firms. The results provide new insights into R&D efficiency and the first step of policymaking to improve R&D environment.
Online publication date: Tue, 19-Jan-2016
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