Foreign Ownership and Firm Innovation: Evidence from Korea
- Authors
- Joe, Denis Yongmin; Oh, Frederick Dongchuhl; Yoo, Heechan
- Issue Date
- 3-7월-2019
- Publisher
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
- Keywords
- Foreign ownership; innovation; chaebol; spillover; Korea
- Citation
- GLOBAL ECONOMIC REVIEW, v.48, no.3, pp.284 - 302
- Indexed
- SSCI
SCOPUS
KCI
- Journal Title
- GLOBAL ECONOMIC REVIEW
- Volume
- 48
- Number
- 3
- Start Page
- 284
- End Page
- 302
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/64157
- DOI
- 10.1080/1226508X.2019.1632729
- ISSN
- 1226-508X
- Abstract
- This study examines whether foreign equity investment promotes domestic firms' innovation activities. Using panel data on the Korean firms during the 1999-2013 period, we find that foreign ownership has a positive effect on firms' innovation activities. Furthermore, we also show that, as compared to non-chaebol firms, chaebol firms' innovation activity becomes much greater with the increase of foreign ownership. Finally, we investigate industry-level spillover effects of innovation. Specifically, we find that foreign ownership promotes innovation activities via forward linkage, the effect of which is also more pronounced in chaebol firms.
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Collections - College of Global Business > Division of Convergence Business > 1. Journal Articles
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