DP15155 R&D Spillovers through RJV Cooperation

Author(s):	Albert Banal-Estanol, Tomaso Duso, Jo Seldeslachts, Florian Szücs
Publication Date:	August 2020
Keyword(s):	Market value, patents, R&D, Research Joint Ventures, Spillovers
JEL(s):	K21, L24, L44, O32
Programme Areas:	Industrial Organization
Link to this Page:	cepr.org/active/publications/discussion_papers/dp.php?dpno=15155

We investigate the dimensions through which R&D spillovers are propagated across fi?rms via cooperation through Research Joint Ventures (RJVs). We build on the framework developed by Bloom et al. (2013) which considers the opposing effects of technology spillovers and product market rivalry, and extend it to account for RJVs. Our main fi?ndings are that the adverse effects of product market rivalry are mitigated if fi?rms cooperate in RJVs and that R&D spending is reduced among technologically close RJV participants.