Title:
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The determinants of YIc's R&D activity
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Author:
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García Quevedo, José,; Pellegrino, Gabriele; Vivarelli, Marco; Xarxa de Referència en Economia Aplicada (XREAP)
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Abstract:
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This paper examines the determinants of young innovative companies' (YICs) R&D activities taking into account the autoregressive nature of innovation. Using a large longitudinal dataset comprising Spanish manufacturing firms over the period 1990-2008, we find that previous R&D experience is a fundamental determinant for mature and young firms, albeit to a smaller extent in the case of the YICs, suggesting that their innovation behaviour is less persistent and more erratic. Moreover, our results suggest that firm and market characteristics play a distinct role in boosting the innovation activity of firms of different age. In particular, while market concentration and the degree of product diversification are found to be important in boosting R&D activities in the sub-sample of mature firms only, YICs' spending on R&D appears to be more sensitive to demand-pull variables, suggesting the presence of credit constraints. These results have been obtained using a recently proposed dynamic type-2 tobit estimator, which accounts for individual effects and efficiently handles the initial conditions problem. |
Subject(s):
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-R&D -Innovation -Young Innovative Companies (YICs) -Dynamic type-2 tobit estimator -Economy -Technological innovations -Enterprises -Economia -Empreses -Innovacions tecnològiques |
Rights:
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open access
Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, la comunicació pública de l'obra i la creació d'obres derivades, fins i tot amb finalitats comercials, sempre i quan es reconegui l'autoria de l'obra original.
https://creativecommons.org/licenses/by/3.0/ |
Document type:
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Working paper |
Published by:
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Xarxa de Referència en Economia Aplicada (XREAP)
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Share:
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Uri:
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https://ddd.uab.cat/record/98108
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