Strategic R & D policy : R & D investment and oligopolistic market under uncertainty

当经济之间的关联度变大，市场竞争变得更加激烈时，资源有限的企业试图战略性地投资于生产和研发，以保持自己的竞争力。然而，R&D活动所产生的技术具有公共产品的特性，因而被解释为市场失灵。由于R&D投资带来的创新被认为是对增长的贡献，如果社会损失巨大，政府必须出台R&D政策。此外，投资策略的有效管理是不可或缺的，因为研发投资总是存在不确定性。在这种情况下，为了在研发活动中利用规模经济并避免研发溢出，企业组织研究合资企业(RJV)是很常见的。另一方面，由于存在信息不对称和成员企业的利益可能不同，合资企业可能会导致X-非效率，因此研究寡头垄断企业的有效投资策略和合适的R&D政策具有重要意义。此外，还研究了商品市场结构如何影响R&D竞争，或相反，R&D竞争如何影响市场结构。但是，在有关战略R&D投资的文献中，这些问题并没有得到系统的回答。我们的主要目标是在不确定条件下分析不完全信息模型中的问题。本研究的主要内容如下：1.对企业R&D战略投资及其对外经营战略选择和政府R&D政策的理论文献进行了综述。2.建立了跨国企业在资源受限时投资策略内部化的模型。3.在假设组织内部信息不对称和R&D存在不确定性的情况下，考察了市场结构与企业R&D投资绩效之间的相互关系。

When the degree of interrelation between economies becomes bigger and the market becomes more competitive, firms with limited resource try to invest in production and R & D strategically and keep their competitiveness. With characteristic of public goods, however, technology produced by R & D activities is explosed to market failure. Since innovation brought by R & D investment is said to contribute to the growth, government must introduce R & D policy if the magnitude of social loss is huge. Moreover, efficient management of investment strategies is indispensable because there is always uncertainty in R&D investment. Under those circumstances, it is common that firms organize a research joint venture(RJV) in order to utilize economies of scale in R & D activities and avert R & D spillovers. On the other hand, RJV may cause X-inefficiency because there are asymmetric information and interests of member firms can be different.It is important to investigate what are the efficient investment strategies for oligopolistic firms and what are the appropriate R & D policies. And, how market structure in goods affects R & D rivalry, or adversely, R & D competition affects market structure is also studied. But, these questions are not fully answered systematically in literature on strategic R & D investment. Our main objective is to analyze those issues in the models with incomplete information under uncertainty. The following are the topics which are dealt in this research project :1.Make a survey of theoretical literature on firm's strategic R & D investment and its strategic choice of foreign operations and government's R & D policy.2.To build a model which internalizes investment strategies of a multinational enterprise when its resource is constrained.3.Investigate interrelation between market structure and the performance of firm's R & D investment when asymmetric information in organizations and uncertainty in R & D are assumed.