Vendrell-Herrero, Ferran; González-Pernía, José Luís - 2010
&D activities conducted internally helps firms to develop the ability to identify, assimilate and apply external knowledge … produce new knowledge results (Zahra and Nielsen, 2002). Moreover, the uncertain economic value of new knowledge (Arrow, 1962 … argue that R&D activities do not have a direct effect on growth since not all new knowledge is economically relevant (Arrow …