We examine the role of host countries’ academic research strengths in global R&D location decisions bymultinational firms. While we expect that a firm’s propensity to perform R&D in a host country increases with the strength of local academic research, firms are expected to be...

We evaluate the impact of basic research on pharmaceutical firms' technological performance, distinguishing between internal basic research and the exploitation of external basic research findings. We find that firms increase their performance by engaging more in internal basic research, in...