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Does Innovation Lead to Firm Growth?: Explorative versus Exploitative Innovations
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.).ORCID iD: 0000-0003-0218-7924
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.).ORCID iD: 0000-0001-8377-1633
2022 (English)In: Applied Economics Letters, ISSN 1350-4851, E-ISSN 1466-4291, p. 1-4Article in journal (Refereed) Published
Abstract [en]

In this article, we examine the relationship between innovation and firm growth. Drawing on previous research, we implement a classification of innovations based on whether they are explorative or exploitative. Access to Swedish register data comprising the entire private sector from 1997 to 2012 allows us to construct innovation patterns for more than 480,000 firms. GMM-estimations confirm a significant and positive effect of both exploitative and explorative innovation on firms’ employment growth. More radical explorative innovations are shown to have a more persistent growth effect, while exploitative innovation increases labour demand in the short run.

Place, publisher, year, edition, pages
Informa UK Limited , 2022. p. 1-4
Keywords [en]
exploitation innovation, exploration innovation, firm growth, Innovation
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:kth:diva-321880DOI: 10.1080/13504851.2022.2041166ISI: 000761110400001Scopus ID: 2-s2.0-85125927040OAI: oai:DiVA.org:kth-321880DiVA, id: diva2:1713509
Note

Not duplicate with DiVA 915237

QC 20221125

Available from: 2022-11-25 Created: 2022-11-25 Last updated: 2023-12-22Bibliographically approved

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Braunerhjelm, PontusThulin, Per

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