SHENG-SYAN CHENChen, Yan-ShingYan-ShingChenLiang W.-L.Wang, YanzhiYanzhiWang2019-07-242019-07-24201300221090https://scholars.lib.ntu.edu.tw/handle/123456789/414655We examine how research and development (R&D) incoming spillovers affect long-run firm performance following firms' R&D increases. We use a stochastic frontier production method to capture R&D incoming spillover effects. Firms reaping more benefits from R&D investment made by other firms experience more improvement in profitability and more favorable long-run stock performance in the post-R&D-increase period. Firms with higher levels of R&D incoming spillovers recruit more key employees from other firms, suggesting that obtaining know-how through hiring is an important source of incoming spillovers. The evidence also shows that firms experiencing more R&D outgoing spillover effects tend to underinvest in R&D. Copyright ? Michael G. Foster School of Business, University of Washington 2013.[SDGs]SDG9[SDGs]SDG12journal article10.1017/S00221090130005742-s2.0-84902168089https://www.scopus.com/inward/record.uri?eid=2-s2.0-84902168089&doi=10.1017%2fS0022109013000574&partnerID=40&md5=d45c3b37184c01a51a48d66663fcbfea