Journal
INDUSTRY AND INNOVATION
Volume 29, Issue 10, Pages 1171-1201Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/13662716.2022.2088334
Keywords
R&D subsidies; human capital; formal education; skills; firm innovation; innovation policy
Categories
Funding
- Agencia Estatal de Investigacin (AEI) [ECO2017-86305-C4-1-R]
- European Regional Development Funds (ERDF) [ECO2017-86305-C4-1-R]
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This study reveals that the proportion of Ph.Ds. and researchers in a firm's R&D team affects the impact of national R&D subsidies on technological knowledge production. Ph.Ds. and researchers have different strategic values and contributions to exploiting R&D subsidies, with researchers playing a more prominent role.
This paper examines the innovation impact of R&D subsidies in Spain. It contributes to the literature on technology policy by challenging the assumption considering this impact as homogenous across firms. The paper presents a conceptual framework in which the human capital composition of a firm's R&D staff, defined in terms of education and skills, conditions the innovation impact of R&D subsidies. Using panel data for Spain, we find that the shares of Ph.Ds. and researchers within a firm's R&D staff positively moderate the effect of national R&D subsidies on the production of technological knowledge. This fact shows the strategic value of Ph.Ds. and researchers in exploiting R&D subsidies. We also show that the contribution of Ph.Ds. is limited to the production of technological knowledge. In contrast, the contribution of researchers goes beyond the production of technological knowledge, also enhancing the R&D subsidy impact on the commercialisation of firms' innovations.
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