Francisco Javier Forcadell

ASSESSING THE EFFECT OF PUBLIC SUBSIDIES ON FIRM R&D INVESTMENT: A SURVEY

This survey examines the empirical literature on the relationship between public R&D subsidies and private R&D investment over the past five decades. The survey reveals a considerable heterogeneity of empirical results that cannot be explained fully by methodological issues. We aim to provide further explanations of the possible causes of that heterogeneity. In particular, we emphasise a set of issues that, in our view, are critical to understanding the potential effect of public R&D subsidies on private R&D spending. Special attention is paid to the dynamic aspects and composition of firm R&D, the constraints faced by the firm (such as financial constraints), and the amount and source of public subsidies. None of these issues have been investigated in depth. We formulate a set of research assumptions to guide future empirical research in this field.

Business portfolio restructuring: a comprehensive bibliometric review

Business portfolio restructuring (BPR) has received considerable attention in the fields of management and finance. However, to the best of our knowledge, there are no studies applying extensive qualitative and quantitative methods to BPR research. The aim of the present paper is to fill this gap by presenting the first complete bibliometric review of BPR research. In this work, for the first time, not only the extant literature published between 1993 and 2012 is analysed but also the most cited bibliographic references using bibliometric techniques. In this way, past and present academic contributions are reviewed. Four main results are forthcoming: first, a certain parallelism is found with bibliometric studies in strategic management. Second, the intellectual grounding for this field involves the subjects of economics, management and finance as its principal contributors. Third, the theoretical basis for the study of BPR mainly involves agency theory, transaction cost theory, and the resource-based view. Fourth, the financial crisis of 2008 explains an important part of current research priorities and trends among BPR scholars.

Restructuring and Performance in Europe:The effect of Institutional Environment and Business Cycle

This study analyses the effect of the institutional environment and the business cycle on the relationship between Business Portfolio Restructuring (BPR) strategy and corporate performance. A sampl...