A test of the schumpeterian hypothesis in a panel of european electric utilities1

Innovation, Economic Growth and the Firm: Theory and Evidence of Industrial Dynamics

Volumn , Issue , 2010, Pages 102-136

  Salies, Evens ^a  

^a Observatoire Franc and cedil ais des Conjonctures Economiques   (France)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84882045922     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Chapter

References (49)

1. AI-Sunaidy, A. and R. Green (2006), 'Electricity deregulation in OECD (Organisation for Economic Co-operation and Development) countries', Energy, 31 (6-7), 769-787.
2. AMECO, http://ec.europa.euleconomy_finance/db_indicators/db_indicatorsS646_en.h tm.
3. Bah, R. and P. Dumontier (2001), R&D intensity and corporate financial policy: some international evidence, Journal of Business Finance & Accounting, 28 (5-6), 671-692.
4. Baltagi, R (2005), Econometric Analysis of Panel Data, John Wiley & Sons, 3rd edition.
5. Baumol, W.J. (2002), The Free-Market Innovation Machine -Analyzing the Growth Miracle of Capitalism, Princeton, NJ: Princeton University Press.
6. Bertrand, O. and P. Zuniga (2006), 'R&D and M&A: are cross-border M&A different? An investigation on OECD countries', International of Industrial Organization, 24 (2), 401-423.
7. Blacconiere, W.G., M.F. Johnson and M.S. Johnson (2000), 'Market valuation and deregulation of electric utilities', Journal of Accounting and Economics, 29 (2), 231-260.
8. Bound, J., C. Cummins, Z. Griliches, RH. Hall and A. Jaffe (1984), 'Who does R&D and who patents? in NBER (ed.), R&D, Patents and Productivity, The University of Chicago Press, pp. 21-54.
9. Bourgade, M. (2008), 'Comparaison des structures de passif des principaux groupes energetiques europeens', October, Master Dissertation, Sciences Po.
10. Brouwer, E. and A. Kleinknecht (1996), 'Firm size, small business presence and sales of innovative products: a micro-econometric analysis', Small Business Economics, 8 (3), IS9-201.
11. Casson, P.D., R. Martin and T.M. Nisar (2008), 'The financing decisions of innovative firms', Research in International Business and Finance, 22 (2), 20S-221.
12. Cohen, W. and S. Klepper (1996), 'A reprise of size and R&D', Economic Journal, 106 (437),925-951.
13. Commission of the European Communities (2007), 'Mid-term review of industrial policy: a contribution to the EU's growth and jobs strategy', COM(2007)374, 4th July 2007, http://eur-Iex.europa.eulLexUriServlsite/enlcoml2007/com2007 037 4enO 1. pdf.
14. Defeuilley, C. and A.T. Furtado (2000), 'Impacts de l'ouverture a la concurrence sur la R&D dans Ie secteur electrique', Annals of Public and Cooperative Economics, 71 (1), 5-2S.
15. Del Monte, A. and E. Papagni (2003), 'R&D and the growth of firms: empirical analysis of a panel of Italian firms', Research Policy, 32 (6), 1003-1014.
16. Dhrymes, P.J. and M. Kurz (1964), 'On the dividend policy of electric utilities', The Review of Economics and Statistics, 46 (1), 76-S1.
17. EdF (2008), 'EdfGroup: 2008's reference document', http://www.edf.com.
18. Europa (2007), 'Commission launches public consultation on sustainable consumption and production and sustainable industrial policy', Press Releases IP/07/1215, http://europa.eulrapidlpressReleasesAction.do ?reference=IP/07/1215&format=HT ML&aged=O&language=EN&guiLanguage=en, accessed October 27, 2008.
19. Eurostaf (2005) 'Les strategies de developpement des compagnies europeennes d' electricite' , Vol. 1, Analyses et Conclusions, Collection Perspectives strategiques et financiers.
20. General Accounting Office (1996), 'Changes in electricity-related R&D funding', GAOIRCED-96-203 Federal Research.
21. Guerard, J.B. (2005), Corporate Financial Policy and R&D Management, 2nd ed., NJ: John Wiley & Sons.
22. Guerard, J.B. AS. Bean and S. Andrews (1987), 'R&D management and corporate financial policy', Management Science, 33 (11), 1419-1427.
23. Gulli, F. (1995), 'Product and process innovation in the energy industry: the development of integrated tar gasification combined cycle plants (ITGCC), Energy Policy, 23 (8), 647-658.
24. Hall, B., D. Foray and J. Mairesse (2007), 'Pitfalls in estimating the returns to corporate R&D using accounting data', paper presented at the First Conference on Knowledge for Growth, October 8-9, 16 pp.
25. Hall, B.H. (2002), 'The financing of research and development', Oxford Review of Economic Policy, 18 (1), pp. 35-51.
26. Hollinger, P. (2009), 'Acquisitions have led to balance sheet pressure', The Financial Times, 11105/2009.
27. Horbach, J. (2008), 'Determinants of environmental innovation -New evidence from German panel data sources', Research Policy, 37 (1), 163-173.
28. Jaffe, AB. (1986), 'Technological opportunity and spillovers of R&D: evidence from firms' patents, profits, and market value', American Economic Review, 76 (5), 984-1001.
29. Jamasb, T. and M. Pollitt (2009), 'Electricity sector liberalisation and innovation: an analysis of the UK patenting activities', Cambridge Working Paper in Economics, 0902 and EPRG Working Paper 0901.
30. Jamasb, T. and M. Pollitt (2008), 'Liberalisation and R&D in network industries: the case of the electricity industry', Research Policy, 37 (6-7), 995-1008.
31. Johnstone, N., I. Hascic and D. Popp (2008), 'Renewable energy policies and technological innovation: evidence on patent counts', NBER Working Paper Series, No. 13760.
32. Jolink, A and E. Niesten (2008), 'Governance transformations through regulations in the electricity sector: the Dutch case' , International Review of Applied Economics, 22 (4), 499-508.
33. Leveque, F. and R. Monturus (2008), 'Mergers and acquisitions within the European power and gas sectors -Cases and patterns', CERNA
34. Mahlich, J.C. and T. Roediger-Schluga (2006), 'The determinants of pharmaceutical R&D expenditures: evidence from Japan', Review of Industrial Organization, 28 (2), 145-164.
35. Margolis, R.M. and D.M. Kammen (1999), 'Underinvestment: the energy technology and R&D policy challenge', Science, 285, 690-692.
36. Markard, J., B. Truffer and D.M. Imboden (2004), 'The impacts of market liberalization on innovation processes in the electricity sector', Energy and Environment, 15 (2), 201-214.
37. Mohnen, P., F.e. Palm, S. Schim van der Loeff and A Tiwari (2008), 'Financial constraints and other obstacles: are they a threat to innovation activity?, United Nations University Working Paper Series, 2008-06.
38. Musso, P. and S. Schiavo (2007), 'The impact of financial constraints on firms survival and growth', OFCE Working Paper Series, 2007-37.
39. Nelson, RR and E.N. Wolff (1997), 'Factors behind cross-industry differences in technical progress', Structural Change and Economic Dynamics, 8 (2), 205-220.
40. Oswald, D. and P. Zarowin (2007), 'Capitalisation of R&D and the informativeness of stock prices', European Accounting Review, 16 (4), 703-26.
41. PricewaterhouseCoopers (2008, January), 'Power deals -Annual Review', http://www.pwc.fr/powecdeals_2007.html. accessed February S, 2008.
42. Roux-Dufort, C. and E. Metais (1999), 'Building core competencies in CrISlS management through organizatioal learning -The case of the French nuclear power producer', Technological Forecasting and Social Change, 60 (2), 113-127.
43. Salies, E. (2008), 'Mergers in the GB electricity market: effects on retail charges', Applied Economics, 14 (11), 1483-1490.
44. Sanyal, P. (2007), 'The effect of deregulation on environmental research by electric utilities', Journal of Regulatory Economics, 31 (3), 335-353.
45. Sanyal, P. and L.R Cohen (2008), 'R&D choice in restructured industries: in-house vIs collaborative research in the US electricity industry, http://people.brandeis.edul-psanyallElec_Restruc_RD_InCExt.pdf.
46. Skeer, J. (1996), 'How is electric power technology development affected by growing power sector competition?', A summary of discussion at the 10th Meeting of the CERT Group of Experts on Electricity Power Technologies, International Energy Agency Headquarters, Paris 26th-27th October 1995.
47. Symeonidis, G. (1996), 'Innovation, firm size and market structure: Schumpetarian hypotheses and some new themes', Economics Department Working Papers, No. 161,OCDE/GD(96)58.
48. Wilder, RP. and S.R Stansell (1974), 'Determinants of research and development activity by electric utilities', The Bell Journal of Economics and Management Science, 5 (1), 646-650.
49. World Energy Council (2007), The role of nuclear power in Europe, www. worldenergy .orgldocuments/wec_nuclear_full_report. pdf, January, London.