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Autoren: 
Bianchini, Stefano
Pellegrino, Gabriele
Tamagni, Federico
Datum: 
2016
Reihe/Nr.: 
LEM Working Paper Series 2016/03
Zusammenfassung: 
In this work, we explore the relations between sales growth and a set of innovation indicators that capture the different sources, modes and results of the innovative activity undertaken within firms. We exploit a rich panel on innovation activity of Spanish manufacturing firms, reporting detailed CIS-type information continuously over the period 2004-2011. Standard GMM-panel estimates of the average effect of innovation activities reveal significant and positive effect for internal R&D, while no effect is found for external sourcing of knowledge (external R&D, acquisition of embodied and disembodied technologies) as well as for output of innovation (process and product innovation). However, fixed-effects quantile regressions reveal that innovation activities, apart from process innovation and disembodied technical change, display a positive effect on high-growth performance. Finally, we find evidence of super-modularity of the growth function, revealing complementarities of internal R&D with product innovation, and between product and process innovation.
Schlagwörter: 
firm growth
product and process innovation
internal and external R&D
embodied and disembodied technical change
fixed-effects quantile regressions
complementarity
JEL: 
C21
D22
O31
O32
Dokumentart: 
Working Paper

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