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R&D Strategy and Firm Performance: What Is the Long-Run Impact of Persistent R&D?
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Entrepreneurship and innovation. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.ORCID iD: 0000-0002-5871-8571
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.). Jönköping International Business School (JIBS), Sweden .
KTH. Jönköping International Business School (JIBS), Sweden; Blekinge Technical University, Sweden .
2012 (English)In: Innovation and Growth: From R&D Strategies of Innovating Firms to Economy-wide Technological Change, Oxford University Press, 2012Chapter in book (Refereed)
Abstract [en]

There are systematic long-run differences in the performance of firms. This chapter argues that such persistent performance gaps can be explained by the fact that firms employ different R&D-strategies. Controlling for unobservable heterogeneity, past performance and other firm characteristics, that labour productivity is shown to be, on average, 13 percent higher among firms with persistent R&D commitment and 4 percent higher among firms which make occasional R&D efforts when compared with firms which do not invest in R&D. Furthermore, firms which employ a strategy with persistent R&D efforts are rewarded with a productivity growth rate that, on average, is about 2 percent higher than for other firms. The results are similar when firm performance is measured as total sales or exports per labour input.

Place, publisher, year, edition, pages
Oxford University Press, 2012.
Keyword [en]
Dynamic panel data, Export, Innovation, Productivity, Productivity growth, R&D, Strategy
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:kth:diva-163604DOI: 10.1093/acprof:oso/9780199646685.003.0009Scopus ID: 2-s2.0-84920501368ISBN: 9780191748998 (print)ISBN: 9780199646685 (print)OAI: oai:DiVA.org:kth-163604DiVA: diva2:801898
Note

Print publication 2012, Online publication 2013.

QC 20150410

Available from: 2015-04-10 Created: 2015-04-09 Last updated: 2016-05-30Bibliographically approved

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Lööf, Hans

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Entrepreneurship and innovationCentre of Excellence for Science and Innovation Studies, CESISIndustrial Economics and Management (Dept.)KTH
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CiteExportLink to record
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