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Innovation Strategy and Firm Performance: What is the long-run impact of persistent R&D?
KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS. KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics.
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics. KTH, School of Industrial Engineering and Management (ITM), Centres, Centre of Excellence for Science and Innovation Studies, CESIS.ORCID iD: 0000-0002-5871-8571
2010 (English)Report (Other academic)
Abstract [en]

There are systematic long-run differences in the performance of firms explained by the R&D-strategy that each firm employs. Controlling for unobservable heterogeneity, past performance and other firm characteristics, this paper shows that labour productivity is, on average, 13 percent higher among firms with persistent R&D commitment and 9 percent higher among firms which make occasional R&D efforts when compared with non-R&D-firms. 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 labor input.

Place, publisher, year, edition, pages
CESIS, KTH Royal Institute of Technology , 2010. , 29 p.
Series
CESIS Working Paper Series in Economics and Institutions of Innovation, 240
Keyword [en]
R&D, Innovation-strategy, productivity, export, dynamic panel-data
National Category
Economics
Identifiers
URN: urn:nbn:se:kth:diva-67455OAI: oai:DiVA.org:kth-67455DiVA: diva2:484969
Note
QC 20120209Available from: 2012-02-09 Created: 2012-01-27 Last updated: 2012-02-09Bibliographically approved

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CESISWP240(323 kB)414 downloads
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Type fulltextMimetype application/pdf

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CiteExportLink to record
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Citation style
  • apa
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  • de-DE
  • en-GB
  • en-US
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Output format
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