R&D investments in knowledge intensive sectors in developing countries and the role of host country political uncertainty
研究了东道国政治不确定性如何影响跨国公司在发展中国家知识密集型部门的研发投资，发现政治不确定性对研发资本投资有负面影响，但科学基础部门和知识密集型商业服务部门的投资对政治不确定性较不敏感。
Multinational enterprises (MNEs) persistently navigate environments characterized by political uncertainty. Yet, it is unclear how such uncertainty affects the location and sectoral spread of MNEs' overseas research and development (R&D) investments. This study delves into the influence of political uncertainty on R&D investments within knowledge‐intensive sectors, particularly in developing nations, thus enhancing our understanding of the contextual variables at play. Using a unique data set of MNE greenfield R&D global investment projects over the period 2003–2019, we show that political uncertainty has a negative effect on R&D capital investments. Additionally, we explore sector and host country location‐specific boundary conditions that moderate this relationship and find support for our hypotheses. Our findings show that MNE R&D investments in science‐based sectors (SBS) and knowledge‐intensive business services (KIBS) sectors in developing countries are less susceptible to political uncertainty compared to developed countries. Our results call for more attention from MNEs' managers and policymakers to political developments in their investing countries.