The main goal of this article is to assess the impact of product innovation on the economic performance of firms operating in Medium and High-Tech (M&HT) industries. Using information from a large and unique dataset on Italian firms we estimate, by means of propensity Score (PS) matching methods, a positive and significant ‘innovation premium’ both in terms of profitability and growth (in the short-run) for those firms who introduced new innovative products. We also find that this innovation premium is particularly large for small firms and even more so when considering new established firms.
Cozza, C., Malerba, F., Mancusi, M. L., Perani, G., Vezzulli, A., Innovation, profitability and growth in medium and high-tech manufacturing industries: evidence from Italy, <<APPLIED ECONOMICS>>, 2012; 44 (15): 1963-1976. [doi:10.1080/00036846.2011.556594] [http://hdl.handle.net/10807/19357]
Innovation, profitability and growth in medium and high-tech manufacturing industries: evidence from Italy
Mancusi, Maria Luisa;
2012
Abstract
The main goal of this article is to assess the impact of product innovation on the economic performance of firms operating in Medium and High-Tech (M&HT) industries. Using information from a large and unique dataset on Italian firms we estimate, by means of propensity Score (PS) matching methods, a positive and significant ‘innovation premium’ both in terms of profitability and growth (in the short-run) for those firms who introduced new innovative products. We also find that this innovation premium is particularly large for small firms and even more so when considering new established firms.
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