I examine returns to collaborative R&D using the marginal treatment effects framework. This framework allows me to examine whether the impacts of participation in collaborative R&D on the benefits of product innovation are homogeneous, or if instead firms derive heterogeneous returns based on unobserved characteristics and expectations. Assuming that returns are indeed heterogeneous, I develop two alternative hypotheses representing different underlying mechanisms driving the connection between collaboration and expected returns: If firms evaluate the pros and cons of collaboration based on idiosyncratic traits and expectations, then it is logical to expect that those most likely to collaborate are also those most likely to derive significant benefits from collaboration. This represents the notion of positive selection. On the other hand, it might be possible that those firms least likely to collaborate are in fact those that would have benefited the most had they chosen to collaborate. This reflects the notion of negative selection. Using anonymized data from the 2006 Community Innovation Survey, I confirm that there exists significant heterogeneity in the returns to collaborative R&D due to both unobservable and observable firm characteristics; moreover, the findings clearly support the hypothesis of negative selection. It appears that collaborative R&D plays an equalizing role on the benefits of product innovation for resource-constrained firms.

我使用边际待遇效应框架研究了合作研发的回报。这个框架使我能够检查参与合作研发对产品创新的好处是否是同质的，或者企业是否基于未观察到的特征和期望而获得了异质回报。假设收益确实是异质的，我提出了两个替代假设，它们代表了驱动合作与期望回报之间联系的不同潜在机制：如果公司基于特质和期望来评估合作的利弊，那么合乎逻辑的期望是可能合作的人也最有可能从合作中获得重大利益的人。这代表了积极选择的概念。另一方面，实际上，那些最不可能合作的公司可能是那些如果选择合作就可以从中受益最大的公司。这反映了否定选择的概念。使用2006年社区创新调查的匿名数据，我确认由于不可观察和可观察的公司特征，在协作研发的回报中存在显着的异质性。此外，这些发现清楚地支持了否定选择的假设。对于资源有限的公司来说，协作研发似乎在产品创新的收益方面起着均等的作用。使用2006年社区创新调查的匿名数据，我确认由于不可观察和可观察的公司特征，在合作研发的回报中存在显着的异质性。此外，这些发现清楚地支持了否定选择的假设。对于资源有限的公司来说，协作研发似乎在产品创新的收益方面起着均等的作用。使用2006年社区创新调查的匿名数据，我确认由于不可观察和可观察的公司特征，在合作研发的回报中存在显着的异质性。此外，这些发现清楚地支持了否定选择的假设。对于资源有限的公司来说，协作研发似乎在产品创新的收益方面起着均等的作用。