|
Title:
|
High Growth Firms and Innovation: an empirical analysis for Spanish firms
|
|
Author:
|
Segarra Blasco, Agustí; Teruel Carrizosa, Mercedes
|
|
Other authors:
|
Universitat Rovira i Virgili. Departament d'Economia; Universitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia Pública |
|
Abstract:
|
This paper analyzes the effect of firms’ innovation activities on their growth
performance. In particular, we observe how important innovation is for high-growth
firms (HGFs) for an extensive sample of Spanish manufacturing and services firms.
The panel data used comprises diverse waves of Spanish CIS over the the period
2004-2008. First, a probit analysis determines whether innovation affects the
probability of being a high-growth firm. And second, a quantile regression technique
is applied to explore the determinants and characteristics of specific groups of firms
(manufacturing versus service firms and high-tech versus low-tech firms). It is
revealed that R&D plays a significant role in the probability of becoming a HGF.
Investment in internal and external R&D per employee has a positive impact on firm
growth (although internal R&D presents a significant impact in the last quantiles,
external R&D is significant up to the median). Furthermore, we show evidence that
there is a positive impact of employment (sales) growth on the sales (employment)
growth.
Keywords: high-growth firms, firm growth, innovation activity
JEL Classifications: L11, L25, O30 |
|
Publication date:
|
2011 |
|
Subject (UDC):
|
33 - Economia
65 - Gestió i organització. Administració i direcció d'empreses. Publicitat. Relacions públiques. Mitjans de comunicació de masses |
|
Subject(s):
|
Empreses -- Innovacions tecnològiques -- Espanya
Empreses -- Creixement |
|
Rights:
|
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/ |
|
Pages:
|
28 p. |
|
Document type:
|
Working Paper |
|
Published by:
|
Universitat Rovira i Virgili. Departament d'Economia
|
|
Collection:
|
Documents de treball del Departament d'Economia;2011-32
|
|
Share:
|
|
