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EnglishThis study examines the relationship between R&D drivers and firm's age, taking into account the autoregressive nature of innovation. Using a large longitudinal dataset comprising Spanish manufacturing firms over the period 1990–2008, we find that previous R&D experience is a fundamental determinant for mature and young firms, albeit to a smaller extent in the case of younger firms, suggesting that their innovation behaviour is less persistent and more erratic. Moreover, our results suggest that firm and market characteristics play a distinct role in boosting the innovation activity of firms of different ages. In particular, while market concentration and the degree of product diversification are found to be important in fostering R&D activities in the subsample of mature firms only, young firms’ spending on R&D appears to be more sensitive to demand-pull variables. These results have been obtained using a recently proposed dynamic type-2 tobit estimator, which accounts for individual effects and efficiently handles the initial conditions problem.
Vivarelli, M., Pellegrino, G., Garcia Quevedo, J., R&D Drivers and Age: Are Young Firms Different?, <<RESEARCH POLICY>>, 2014; (43): 1544-1556 [http://hdl.handle.net/10807/61502]
| Autori: | |
| Titolo: | R&D Drivers and Age: Are Young Firms Different? |
| Data di pubblicazione: | 2014 |
| Abstract: | This study examines the relationship between R&D drivers and firm's age, taking into account the autoregressive nature of innovation. Using a large longitudinal dataset comprising Spanish manufacturing firms over the period 1990–2008, we find that previous R&D experience is a fundamental determinant for mature and young firms, albeit to a smaller extent in the case of younger firms, suggesting that their innovation behaviour is less persistent and more erratic. Moreover, our results suggest that firm and market characteristics play a distinct role in boosting the innovation activity of firms of different ages. In particular, while market concentration and the degree of product diversification are found to be important in fostering R&D activities in the subsample of mature firms only, young firms’ spending on R&D appears to be more sensitive to demand-pull variables. These results have been obtained using a recently proposed dynamic type-2 tobit estimator, which accounts for individual effects and efficiently handles the initial conditions problem. |
| Lingua: | Inglese |
| Rivista: | |
| Citazione: | Vivarelli, M., Pellegrino, G., Garcia Quevedo, J., R&D Drivers and Age: Are Young Firms Different?, <<RESEARCH POLICY>>, 2014; (43): 1544-1556 [http://hdl.handle.net/10807/61502] |
| Appare nelle tipologie: | Articolo in rivista, Nota a sentenza |
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