Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251265 
Year of Publication: 
2022
Series/Report no.: 
CITYPERC Working Paper No. 2022-01
Publisher: 
City, University of London, City Political Economy Research Centre (CITYPERC), London
Abstract: 
This article presents new insights on the evolving contribution of di!erent types of investments to the growth in sales of US non"nancial listed "rms during the 1979-2018 period. By means of quantile regressions it is observed an increasing contribution over time of intangible investment vis-à-vis a decline in capital expenditure both for high-growth and slow-growth "rms. However, the impact of di!erent types of intangible investment di!ers depending on the kind of "rm. Whereas research and development (R&D) has a positive contribution for highgrowth "rms, only advertising has a positive e!ect for their slow-growth peers.
Subjects: 
Firm growth
Fast-growth firms
Quantile Regression
Intangibles
Document Type: 
Working Paper

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