R&D Strategy and Firm Performance: What Is the Long-Run Impact of Persistent R&D?
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)
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.
Dynamic panel data, Export, Innovation, Productivity, Productivity growth, R&D, Strategy
Economics and Business
IdentifiersURN: urn:nbn:se:kth:diva-163604DOI: 10.1093/acprof:oso/9780199646685.003.0009ScopusID: 2-s2.0-84920501368ISBN: 9780191748998ISBN: 9780199646685OAI: oai:DiVA.org:kth-163604DiVA: diva2:801898
Print publication 2012, Online publication 2013.
QC 201504102015-04-102015-04-092016-05-30Bibliographically approved