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Title:
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High-growth firms and innovation: an empirical analysis for Spanish firms
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Author:
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Segarra Blasco, Agustí, 1958-; Teruel, Mercedes
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Other authors:
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Universitat Rovira i Virgili. Departament d'Economia; Universitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia Pública |
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Abstract:
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This paper analyses the effect of R&D
investment on firm growth. We use an extensive
sample of Spanish manufacturing and service firms.
The database comprises diverse waves of Spanish
Community Innovation Survey and covers the period
2004–2008. First, a probit model corrected for sample
selection analyses the role of innovation on the
probability of being a high-growth firm (HGF).
Second, a quantile regression technique is applied to
explore the determinants of firm growth. Our database
shows that a small number of firms experience fast
growth rates in terms of sales or employees. Our
results reveal that R&D investments positively affect
the probability of becoming a HGF. However, differences appear between manufacturing and service
firms. Finally, when we study the impact of R&D
investment on firm growth, quantile estimations show
that internal R&D presents a significant positive
impact for the upper quantiles, while external R&D
shows a significant positive impact up to the median.
Keywords : High-growth firms, Firm growth, Innovation activity.
JEL Classifications : L11, L25, L26, O30 |
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Publication date:
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2014 |
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Subject (UDC):
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33 - Economia |
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Subject(s):
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Empreses -- Creixement
Innovacions tecnològiques
Emprenedoria
Investigació industrial |
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Rights:
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L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons: http://creativecommons.org/licenses/by-nc-nd/3.0/es/ |
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Pages:
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19 p. |
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Document type:
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Working Paper |
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Published by:
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Universitat Rovira i Virgili. Departament d'Economia
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Collection:
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Documents de treball del Departament d'Economia;2014-05
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