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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.), Entrepreneurship and innovation.ORCID iD: 0000-0001-8958-7554
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Entrepreneurship and innovation.ORCID iD: 0000-0003-0218-7924
2016 (English)Manuscript (preprint) (Other academic)
Abstract [en]

In this paper, we examine the relationship between innovation and firm growth. Weimplement a classification of innovations based on whether they are explorative orexploitative, taking advantage of a unique Swedish dataset for the period 1997 to 2012.The data allow us to construct each firm’s innovation history. Panel regression estimations,together with an instrumental variable method, confirm a significant and positive effect ofboth exploitative and explorative innovation on firms’ employment growth. More radicalexplorative innovations are shown to have a more persistent growth effect, whereasexploitative innovation increases labour demand in the short run. We also provideempirical findings regarding the effect of innovations distributed on size classes anddifferent ownership structures.

Place, publisher, year, edition, pages
2016.
Keyword [en]
Innovation, firm growth, exploration innovation, exploitation innovation
National Category
Economics and Business
Research subject
Economics
Identifiers
URN: urn:nbn:se:kth:diva-184167OAI: oai:DiVA.org:kth-184167DiVA: diva2:915237
Note

QS 2016

Available from: 2016-03-29 Created: 2016-03-29 Last updated: 2016-04-22Bibliographically approved
In thesis
1. Heterogeneous Innovation and Labour Mobility
Open this publication in new window or tab >>Heterogeneous Innovation and Labour Mobility
2016 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

Knowledge is a necessary and critically important factor in generating growth and increased prosperity. The extent to which such effects are materialized depends however on its diffusion and how it transcends into innovation, entrepreneurship and growing firms. This doctoral thesis consists of four papers that examine how labor mobility and innovation strategies influence the performance at the firm level with respect to new ventures, firm level growth and innovativeness.

 

The first paper provides empirical support of the validity of the knowledge-based spillover theory of entrepreneurship by employing a detailed database. The results indicate that both inter-regional labor inflows and intra-regional labor mobility exert a strong positive effect on entrepreneurship, while inter-regional outflows negatively affect entrepreneurial entry.

 

The second paper examines the influence of the labor mobility of knowledge workers on innovation at the firm level. New evidence are provided that reveals a positive and significant impact of labor mobility on firms’ innovations measured as patent applications.

 

In the third paper the influence of labor mobility between multinational enterprises (MNEs) and other firms on innovation is investigated. Looking at firms having different owner structures, empirical evidence are provided that particularly domestically owned MNEs generate strong knowledge spillovers to non-MNEs that translates into innovations.

 

The fourth paper examines the relationship between innovation and firm growth. We implement a classification of innovations based on whether they are explorative or exploitative. The more radical explorative innovations are shown to have a persistent growth effect in the long term, while exploitative innovation increases the labor demand predominantly in the short term.

Place, publisher, year, edition, pages
Stockholm: KTH Royal Institute of Technology, 2016. iv , 11 p.
Series
TRITA-IEO, ISSN 1100-7982 ; 2016:03
Keyword
labor mobility, knowledge spillover, organizational learning, entrepreneurship, heterogeneous innovation
National Category
Economics and Business
Research subject
Economics
Identifiers
urn:nbn:se:kth:diva-184120 (URN)978-91-7595-913-9 (ISBN)
Public defence
2016-04-22, E3, Osquars backe, KTH Campus, Stockholm, 17:44 (English)
Opponent
Supervisors
Note

QC 20160401

Available from: 2016-04-01 Created: 2016-03-27 Last updated: 2016-04-22Bibliographically approved

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