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Título:
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The determinants of YICs’ R&D activity
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Autor/a:
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Garcia-Quevedo, Jose; Pellegrino, Gabriele; Vivarelli, Marco
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Notas:
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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. |
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Materia(s):
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-Productivitat
-Eficiència industrial
-Gestió de la innovació
-Recerca industrial
-Productivity
-Industrial efficiency
-Innovation management
-Industrial research |
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Derechos:
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cc-by-nc-nd, (c) García et al., 2011
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
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Tipo de documento:
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Documento de trabajo |
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Editor:
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Institut d’Economia de Barcelona
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Compartir:
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