The determinants of YIc's R&D activity
García Quevedo, José, 1963- (Universitat de Barcelona)
Pellegrino, Gabriele (Università Cattolica del Sacro Cuore)
Vivarelli, Marco (Università Cattolica del Sacro Cuore)
Xarxa de Referència en Economia Aplicada (XREAP)
Imprint: |
Xarxa de Referència en Economia Aplicada (XREAP) 2011 |
Description: |
45 p. |
Abstract: |
This paper examines the determinants of young innovative companies' (YICs) R&D activities 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 the YICs, 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 age. In particular, while market concentration and the degree of product diversification are found to be important in boosting R&D activities in the sub-sample of mature firms only, YICs' spending on R&D appears to be more sensitive to demand-pull variables, suggesting the presence of credit constraints. 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. |
Rights: |
Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, la comunicació pública de l'obra i la creació d'obres derivades, fins i tot amb finalitats comercials, sempre i quan es reconegui l'autoria de l'obra original. |
Language: |
Anglès |
Series: |
Xarxa de Referència en Economia Aplicada (XREAP). Documents de treball de la Xarxa de Referència en Economia Aplicada (XREAP) |
Series: |
XREAP ; 2011-20 |
Document: |
Working paper |
Subject: |
R&D ;
Innovation ;
Young Innovative Companies (YICs) ;
Dynamic type-2 tobit estimator ;
Economy ;
Technological innovations ;
Enterprises ;
Economia ;
Empreses ;
Innovacions tecnològiques |
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Record created 2012-08-31, last modified 2022-07-10