A new approach to estimation of the R&amp;D–innovation–productivity relationship

Baum, Christopher F.; Lööf, Hans; Nabavi, Pardis; Stephan, Andreas

doi:10.1080/10438599.2016.1202515

Cited by 57 publications

(32 citation statements)

References 12 publications

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“…In order to formally show the role of the innovative milieu in a region for innovation persistency of a firm located in that region, we start with the classic knowledge production function (KPF). The KPF relates the innovation outputs to the innovation inputs (Griliches ; Crépon et al ; Baum et al ):

Y_{i} = A_{i} H_{i}^{α} K_{i}^{β},

where Y i is a measure of the innovation output in firm i (for simplicity, let us assume it is a binary measure), A i measures the overall labour productivity of the innovation activities in firm i , H i is the human capital input in innovative activities in firm i , and K i represents all other internal innovation inputs in firm i . Here a clear distinction is made between the innovation output and the innovation inputs.…”

Section: Location and Innovation Persistencementioning

confidence: 99%

The role of regional context on innovation persistency of firms

Tavassoli

Karlsson

2018

Papers in Regional Science

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This paper analyses the role of regional context on innovation persistency of firms. Using the Community Innovation Survey in Sweden, we have traced firms' innovative behaviour from 2002 to 2012, in terms of four Schumpeterian types of innovation: product, process, organizational, and marketing. Controlling for an extensive set of firm‐level characteristics, we find that certain regional characteristics matter for innovation persistency of firms. In particular, those firms located in regions with: (i) thicker labour market or (ii) higher extent of knowledge spillover exhibit higher probability of being persistent innovators up to 14 percentage points. Such higher persistency is mostly pronounced for product innovators.

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Y_{i} = A_{i} H_{i}^{α} K_{i}^{β},

Section: Location and Innovation Persistencementioning

confidence: 99%

The role of regional context on innovation persistency of firms

Tavassoli

Karlsson

2018

Papers in Regional Science

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“…The findings are robust: we find a significant positive correlation between operational efficiency and Patent assets & Intellectual Property Rights, Goodwill, and Trademarks & Licenses, while we cannot confirm the correlation with reference to Research & Development Capital (and Advertising investments) (although theoretically meaning advances of knowledge and productivity; Pakes & Griliches, 1984;Baum et al, 2017). As a consequence, in this turbulent context, most intellectual assets (the former group, especially trademarks & licenses, and goodwill, whose coefficients are more confidently positive) appear from the efficiency point of view, more reliable than the remaining ones (the latter class) in hampering the profitability drop (ROA and ROE are negative).…”

Section: Discussionmentioning

confidence: 57%

In the Midst of Crisis: Knowledge Assets and Operating Efficiency of Italian Listed Companies

Taliento¹

2017

IJBM

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Firms' knowledge assets represent vital resources that contribute, in general, to corporate performance and value creation. At an earlier stage, they are expected to help enhance the operational efficiency of firms they belong to. In this light, under a Resource-Based Theory framework, we intend to find whether and to what extent this expectancy is verified also during the recent crisis in Italy. In more detail, we considered 612 firm-year observations relating to the Italian listed companies during three consecutive years -2010, 2011 and 2012 (when the financial crisis reached its peak in Italy) -analysing overall about 7.000 data/numbers under a Fixed Effects Panel Data Model. The findings are robust: we document a significant positive correlation between Operational Efficiency and Patent assets & Intellectual Property Rights, Goodwill, Trademarks & Licenses, while we do not find a correlation with reference to Research & Development Capital (and Advertising investments), also controlling for employees, leverage and time/sector dummies. In the midst of a very turbulent period, most intellectual assets (the former) appear from the efficiency point of view more valuable and reliable than others (the latter) in hampering the profitability drop. Hence, unlike the tangible and financial assets, such resources are prospected to be strategic levers that make it possible to maintain efficiency or to enable a faster recovery in terms of wasted efficiency. That is, in turbulent times, technology, marketing-related and contractual-legal assets appear significantly associated with operational efficiency and therefore beneficial to corporate results.

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“…There is strong empirical literature demonstrating the positive impact of innovation on firm productivity. See, for example, Baum et al (2015), Mohnen and Hall (2013), Siedschlag and Zhang (2015) and Bartel, Ichniowski and Shaw (2005).…”

Section: Firm-level Innovation Has a Positive Impact On Labour Producmentioning

confidence: 99%

Innovation in firms and labour market outcomes

Richiardi¹,

Postolachi²

2017

World Employ Soc Outlook

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This chapter explores how innovation in firms (described as product, process, marketing and organizational innovation) is associated with firm performance and labour market outcomes. For this purpose, it first discusses the evidence to date at the aggregate (i.e. country) level – for as broad a set of economies as possible. Then, it focuses on the firm level based on a group of economies for which data from the Business Environment and Enterprise Performance Surveys (BEEPS) and MENA Enterprise Surveys (MENA ES) – surveys of transition and Middle East and North Africa (MENA) economies, respectively – are available. The chapter finds that there are considerable differences between innovative and non‐innovative firms: innovative firms tend to be more productive, create more jobs, employ more skilled workers (meaning that they employ more educated workers and offer more training) and hire more female workers. Yet, in some cases innovation is associated with more intense use of temporary workers (especially in firms that implement product and process innovations). Moreover, it has been found that sectoral differences might play a role. In this regard, considerable job contraction is observed in non‐innovative low‐technology firms in the manufacturing sector, highlighting the high risk of job loss among low‐skilled workers. Regarding sources of innovation, the chapter shows that while R&D engagement is an important determinant of successful innovation, other drivers, including training, public funding and external acquisition of technologies are relevant. On the basis of these findings, the chapter suggests that adequate education, training and social protection policies can play an important role in both fostering innovation and preparing workers (and firms) effectively for the changing job environment. This means that social partners and other stakeholders will be required to participate in reflections on the types of jobs and skills that will be relevant in the future.

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A new approach to estimation of the R&D–innovation–productivity relationship

Cited by 57 publications

References 12 publications

The role of regional context on innovation persistency of firms

The role of regional context on innovation persistency of firms

In the Midst of Crisis: Knowledge Assets and Operating Efficiency of Italian Listed Companies

Innovation in firms and labour market outcomes

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