La littérature économique défend l'existence d'aides publiques à la R&D privée du fait des nombreuses externalités et distorsions qui conduiraient les firmes à sous-investir en R&D. La multiplication de ces aides à différents échelons territoriaux et l'apparition d'éléments plus contrastés concernant leur justification soulignent un besoin accru d'analyse de ces politiques et de leurs conséquences territoriales. L'objet de cette thèse est d'apporter de nouveaux éléments concernant la rationalité, les effets et l'efficacité des aides financières à la R&D privée.Le premier chapitre propose une discussion de la rationalité des aides financières à la R&D à partir de la littérature sur la croissance endogène et ses raffinements incluant une dimension géographique. Le décalage entre les approchesthéoriques et les approches empiriques concernant les origines et l'ampleur du sous-investissement des firmes en R&D fait plutôt ressortir l'hypothèse d'un sous-investissement limité et spécifique.Les chapitres 2 et 3 fournissent des analyses théoriques des effets dynamiques et spatiaux d'une politique centralisée de subvention à la R&D. Les résultats montrent que cette politique renforce la croissance économique, réduit les inégalitésterritoriales et améliore le bien-être global. Les bienfaits de ce type de politique sont non seulement dépendants de l'hypothèse retenue concernant les rendements de la R&D mais surtout des options retenues concernant le financement et l'allocation géographique des subventions. Le chapitre 4 fournit une analyse empirique de la capacité des aides financièresà la R&D à stimuler l'investissement privé en R&D, à partir d'un panel de pays de l'OCDE. Les résultats indiquent une sensibilité plus forte des investissements privés en R&D aux aides indirectes (incitations fiscales) qu'aux aides directes (subventions) et suggèrent l'existence d'effets de substitution entre ces deux types d'aides. / The economie literature largely defends the existence of financial supports to private R&D owing to the numerous externalities and distortions that lead firms to underinvest in R&D. The proliferation of these supports at different territorial levels and the recent emergence of more constrasting arguments concerning their rationale underline an increasing need for the analysis of these policies and the ir territorial impacts. The purpose of this PhD thesis is to provide new elements regarding the rationale, the effects and the effectiveness of financial supports to private R&D.The first chapter proposes a discussion on the ratio na le of financial supports to business R&D following the endogenous growth literature and its refinements including a geographical dimension. Divergences in the theoretical and empirical approaches concerning the origins and the magnitude of the private underinvestment in R&D eventually leads to the hypothesis of a limited and specifie private underinvestment in R&D.Chapters 2 and 3 provide theoretical analyses of the spatial and dynamics effects of a centralized subsidy policy for R&D. The results show that this policy strengthens economie growth, reduces territorial inequalities while improving the global welfare. The benefits of such policy are not only dependent on the chosen assumption about returns to R&D but more importantly on its design in terms of funding and geographical allocation of subsidies.Chapter 4 provides an empirical analysis of the capacity of financial supports to R&D to stimulate private investment in R&D from a panel of OECD countries.The results indicate a greater sensitivity of private investment in R&D to indirect supports (fiscal incentives) than to direct supports (grants and subsidies) and suggest the existence of substitution effects between these two forms of support.

Le travail porte sur une nouvelle vision de l’analyse de l’internationalisation de la R&D dans les pays émergents. Nous redéfinissons les liens entre R&D et innovation ou R&D et technologie en mettant de l’avant le postulat que la technologie issue de l’activité de R&D est un facteur de production. Par la suite, la théorie de l’internationalisation est passée aux cribles, afin de trouver des réponses sur l’absence de prédiction de l’internationalisation de la R&D. Notre modèle du comportement de la multinationale est par la suite développé pour montrer comment les avantages O et I seuls suffisent à motiver la décision de la multinationale à internationaliser la R&D dans tout pays. La particularité de l’internationalisation dans les pays émergents est aussi ressortie avec l’absence de complémentarité qui apparaît lors de l’analyse empirique entre l’internationalisation de la R&D et celle des activités productives dans le cas de ces pays. Enfin, nous appliquons le modèle de croissance logistique dans le but de décrire la trajectoire technologique de la Chine et projeter son impact probable sur les unités de R&D des FMNs qui sont de nature exploratoire. / This research report deals with the subjects of the extension of foreign investments into emerging countries. the particularity nowaday is the internationalisation of strategic activity such as R&D. Many inquiries can be rise since, multinational technology activities are not anymore limited to simple adaptation activity. Emerging countries like China are emplementing their own technology trajectories, so as to attract more and more foreign R&D. This has to do with a change in the behavior of the foreign multinational because the conventional model not only cannot predict the internationalisation of R&D into emerging countries, but even when it does so, it assumes that the suitable technology activies into emerging countries are those limited to adapt home technology. I explain foreign multinational behavior by extending HEWITT (1981) model of internationalisation of R&D. I found that most of the R&D going to emerging countries is for development and adaptation. But the question still remains to know why some multinationals are extending their innovative activities into emerging countries and create regional innovation hubs (choosing one country to play the role of main regional innovation hub). I assume that multinational are both technology exploiting and technology explorer, their motivation are more than sharing their technology with emerging countries, but they aim at exploring technology opportunities in other for them to differentiate and innovate and stay a breath of what the competition is doing. In this part the research all the statistics and indicators show that China is playing the leading role with a technology trajectory above those of the three others countries. This seems to explain why China instead of India is the most attractive destination of foreign investment in production and in R&D.

Dans la littérature, plusieurs études et enquêtesont été menées dans le but d’identifier les besoinsinformationnels des investisseurs. Ces travauxconcluent à l’émergence d’informations de nature nonfinancière, relatives aux actifs immatériels détenus parles entreprises. Parmi ces actifs immatériels figurentles activités de R&D.A partir d’un échantillon d’entreprises quicomposaient l’indice SBF250 en 2005 et 2006, nousnous sommes posé la question de l’utilité desinformations non financières divulguées dans ledomaine de la R&D. En d’autres termes, est-Ce que ladivulgation de ces informations permet auxinvestisseurs d’évaluer les projets de R&D?Ce qui renvoi à l’étude d’associations entre cesinformations non financières et les valeurs de marché(prix et rendements des actions). Les résultats obtenusmontrent que les informations non financières sur laR&D sont associées négativement et de façonsignificative avec les valeurs de marché. / Among published writings, several studies and researches were carried out in order to determine the investors’ information needs. These works concluded to the emergence of non-Financial information relating to companies’ intangible assets. R&D activities are ones of those. Using the SBF250 index for years 2005 and 2006 as sample, we raised the question about the usefulness of non-Financial information disclosed within the framework of R&D. In other words, does communicating on this information enable investors to assess R&D projects?This question leads us to study the link (using the value relevance approach) between this nonfinancial information and market values (prices and returns). The results show that non-Financial information about R&D is unfavorably and meaningfully linked to market values

Despite the huge sum of money that is being spent on research and development (R & D) on yearly basis by firms, very few empirical studies exist to shed more lights about the effects of this practice on firm performance. However, the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) in their publication of International Accounting Standard (IAS) 38, require that expenditures incurred during R & D should either be expensed in the statement of comprehensive income or capitalized as an intangible asset in the statement of financial position provided certain criteria are fulfilled (IASB, 2012, p. 1045).Therefore, the main purpose of this study is to investigate the impact of expensed R & D and/or capitalized R & D on firm performance METHOD: Data for the study was collected from the audited financial statements of firms listed at the London Stock Exchange as well as from the website of this stock market. Two sampling techniques were utilized in the study; namely stratified sampling and random sampling. Stratified sampling technique was used to stratify the companies into various industries while random sampling was used to randomly select firms that are engaged in R & D from each of these industries. The final sample consisting of 52 firms gave a total of 260 observations for a period of 5 years between December 31st, 2007 to December 31st, 2011.Expensed R & D and capitalized R & D were obtained by taking the averages of statement of comprehensive income R & D to Revenue and statement of financial position R & D to revenue respectively. Moreover, firm performance was measured using accounting-based indicators which were Return on Asset (ROA), Return on Capital Employed (ROCE), Dividend Yield (DY), Dividend Cover (DC), Earnings per Share (EPS), Price Earnings Ratio (PE) and Capital Gearing Ratio (CGR). RESULTS: The results of the study show that expensed R & D has a significant positive impact on DC, a significant negative impact on EPS, positively correlated with CGR with no significant impact and negatively correlated with ROA, ROCE, DY and PE but had no significant impact. As concerns capitalized R & D, the results reveal that capitalized R & D has a significant negative impact on ROA, ROCE and EPS, positively correlated with CGR but have no significant impact and negatively correlated with DY, DC and PE as well though no significant impact was found.

This paper examines whether Swedish listed firms use research and development (R&D) accounting as a tool for income smoothing (hypothesis 1). One controversial accounting issue concerning R&D is that R&D capitalization could be influenced by earnings management purposes due to a subjective accounting treatment. We also examine whether firms´ degree of fluctuation in return on assets (ROA) has an effect on income smoothing behavior (hypothesis 2). Finally, we investigate if the level of flexibility allowed in the R&D accounting with the different accounting standards, BFN R1, RR 15 and IAS 38 has an effect on income smoothing behavior (hypothesis 3). We study the accounts for 21 firms for the years 1998-2000, 52 firms for 2002-2004 and 59 firms for 2007-2009. Using multiple regression analysis we find that the income smoothing hypothesis is supported in period two (2002-2004). The regression analysis also indicates that firms with low change in ROA tend to capitalize more R&D when they are less profitable than prior year. Our results also imply that the level of flexibility in different accounting standards does not have an effect on income smoothing behavior and hypothesis 3 is not supported.

As the increase of competition levels, the ability of generating a continuous stream of innovation occupies an exceptionally important role in the development and manufacturing of companies, especially in bio-pharmaceutical industry in United States. This paper presents an empirical perspective on the nature of innovation of the U.S. bio-pharmaceutical companies. Several issues discussed here are central to a study of R&D expenditure's determinates of top listed bio-pharmaceutical companies sampling from U.S. market. It begins with the background information of innovation in overall bio-pharmaceutical sector, and then moves on to detail of R&D activities in bio-pharmaceutical industry. Next it discusses the estimated factors which influence R&D expenditures, following by previous literatures review. The purpose of this thesis is to investigate and to test financial and non-financial factors determining R&D expenditures for individual top technique bio-pharmaceutical listed firms through literature review using data for the 2001 to 2010 periods by both single variable analysis and multiple variable analyses empirically. Moreover, the further step in this study is to investigate the real relations between those factor and R&D expenditures individually and synthetically. In this way, this work helps us have a more clear understanding on the relationship between firm performance and firm R&D expenditures. More specifically, the study provides evidence on three essential issues. To answer there three questions, the paper conducts both single variables analysis and multiple variable analysis. For single variable analyses, first step is to draw scatter plots based on 97 sets of data by using MARLAB software. Following this step, to illustrate the exact correlation between the given independent variable and dependent variable (the natural logarithm of R&D), after processing data filter the paper adopt curve fitting based on varying sets of data. According to the results from this study, the conclusions obtained can be divided into two streams. First type is the one that the hypothesis get support from this study. For instance, there is a significantly positive correlation between firm size and R&D expenditures as expected. Also, just as expected, a high sales growth rate is positively correlated with R&D expenditures based on given sample. Besides, it is proved in this paper that R&Di,t-1 have a lagged effect on the R&Dit expenditures. The other type is that hypothesis cannot be proved, no significant evidence have been found or not as effective as what have been estimated in hypothesis. For example, it is not reasonable to say the R&D expenditures and operating profit margin have a positive correlation. Moreover, the lnR&Dit and cash flow to sales income rate also have no obvious correlation. According to the analyses of two multiple variable models, all six variables can be regarded as the determinants of R&D expenditures; especially the variable of firm 3 / 105 size is the major. Additionally, some interesting findings provided in the end of this study.

Taiwan's small and medium enterprises (SMEs) play an important role to promote economic development. White paper on small and medium enterprises in Taiwan, 2004 indicated SMEs¡¦ numbers is 97.83% of whole industry. So SMEs is the main force in Taiwn¡¦s industry. According to National Science Council review SMEs in Taiwan engage in R¡®D activities facing the captial and technological barriers, and the percentage that accept government subsidy is 13%(National Science Council, 2000). The Deptartment of Industrial Technology (DOIT) of Ministry of Economic Affairs (MOEA), launched Taiwan's SBIR promoting program, mostly referred to the SBIR US version, in 1999 in order to encourage local start-up companies pursuing innovative research of industrial technologies and products. Rothwell & Zegveld (1982) research government innovation policy include technology and industry policy, classify three composes:Supply, Demand, and Environmential policy. In government R&D subsidy policy system can be distinguished to R&D procurement(Demand) and directive subsidy(Supply). The study compare to other country¡¦s R&D subsidy policy and refer to business technology strategy. The study uses the interview method to analyze the policy awareness of SMEs and confer the policy influence of SBIR subsidy policy. So far as bring up the suggestion of government R&D subsidy policy. Through interview analysis, SMEs represent in the beginning of R&D activities always face capital shortage and need technological assistance. The study propose government carry out R&D subsidy should replace monitoring control for concilling system. Government can match up national industry development way to alliance industry engage in specific R&D activity by government R&D subsidy policy. To sum up government can weighted the Demand and Supply side innovation policy to cooperate R&D subsidy policy system. So that government R&D subsidy policy can look after both side by stimulating SMEs innovation generality and promote national technology level to reach the full-scale policy achievements.

Although R&D activities continue to be the latest internationalized of MNCs¡¦ value adding activities even in the most internationalized industries, affiliates of MNCs have begun to account for a considerable proportion of domestic innovative activity in a number of countries. MNC decision-makings with respect to the location of R&D is determined by many factors, such as cost consideration, market size, excellent technological environment, policy factor, to transfer technology and to adapt their technology to the host market. Those above are R&D motivations. Therefore, this research will explore if the R&D motivations affect the R&D strategy. Furthermore, many researches also found that the firm-specific features effects the R&D strategy. And the firm-specific features in the research include nationality, size, the degree of R&D capability and resources in the MNC subsidiary. Finally, the research categorizes the R&D strategies into locally responsive R&D strategy and globally integrated R&D strategy. The purpose of this research is to explore a framework to analyze the relationship among the dependent variables (that are motivation and firm-specific feature) and the independent variable (that are locally responsive R&D strategy and globally integrated R&D strategy). 54 samples of MNC subsidiaries in Taiwan are used in this research, and method of multiple regression is used to test these hypotheses. Finally, we can find that R&D motivations and firm-specific features have significant effects on R&D strategies practices in MNC subsidiaries in Taiwan.

The Taiwan IC assembly industry was based on foreign IDM to establish the IC factories, who led to assembly, test and quality control technology for the back-end production in 1960. The foundation of Taiwan IC assembly industry is until the first local assembly house was established in 1971. The report studies on the relation between the products R&D strategy and core resources in IC assembly industry. With the one of local companies for sample, studies the R&D strategy on product and its model in rapid growth in the recent 15 years. Hoping the report can contribute to industry in specific R&D strategy, technology enhancement and the further study. Key Word: Semiconductor Packaging¡FR&D Strategy¡FR&D Strategy Development Model¡FLife Cycle

Innovation is widely recognized as a key to economic growth. Most research on the innovation process has focused on the results of R&D projects. The positive relation between R&D intensity as an input and innovative performance as an output has become the canonical image for research on innovation. While R&D is an important input to innovation, there is growing evidence that a significant share of innovation is not born from R&D. Much of this non-R&D innovation consists of incremental improvements to existing products, or process innovations, although non-R&D innovation is not limited to these kinds of improvements. Non-R&D innovations can also come from problem solving activities or pursuit of new product ideas outside of a formal R&D project. Such activities would be missed in innovation accounts based on regular, formal R&D. Given the importance of innovation for the sociology and economics of science, and the central role of innovation in policy debates, this study expands the study of innovation to include non-R&D innovations and analyzes the drivers and outcomes of non-R&D compared to R&D-based innovations, with the goal of improving science and innovation policy by: examining the concept of innovation from different theoretical perspectives (Chapter 2), creating new measures and improving understanding of existing measures (Chapter 3), developing new models of the innovation process based on knowledge and learning that expand beyond the existing emphasis on R&D inputs (Chapter 4), and different participation of R&D and non-R&D innovations in markets for technology (Chapter 5). The main results show that the relative effectiveness of learning by R&D and non-R&D for innovation is contingent on nature of knowledge, characterized by generality (i.e., high mobility/transferability) and visibility (i.e., tighter links between actions and outcomes), and that non-R&D inventions are less likely to engage in the licensing market, but are more likely to have exclusivity clauses than R&D inventions. The study concludes with a discussion of the implications of these findings for management of innovation and innovation policy.