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Innovation expectations and patenting in private and public R&D projects

Date
2017
Abstract
In this paper, we investigate how the innovation expectations of public financiers are related to realized patents. The analysis is based on a novel dataset of collaborative R&D projects subsidized by the Finnish Agency of Technology and Innovation (Tekes) and the European Regional Development Fund (ERDF) during the period 2000–2004. Innovation expectations are measured using reports submitted by Tekes experts during ex ante assessments of projects. Our probit model results reveal that Tekes’ patent expectations are positively related to realized patents for projects led by private firms (but not by public organizations). For large organizations, Tekes’ innovation expectations are better at predicting patenting.
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Description
peer-reviewed
Publisher
John Wiley & Sons Ltd.
Citation
Growth and Change; 48 (4), pp. 744-768
Collections
Economics
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Lenihan_2017_growth.pdf
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Keywords
patenting, innovation expectations, public financiers, R&D projects
ULRR Identifiers
https://hdl.handle.net/10344/5569
 https://doi.org/10.34961/152
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Funding Information
Jenny and Antti Wihuri Foundation
Sustainable Development Goals
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