Innovation spillovers and firm performance: micro evidence from Spain (2004–2009)

Abstract

This article analyses the impact that R&D expenditures and intra-and inter-industry externalities have on the performance of Spanish firms. Despite the extensive literature studying the relationship between innovation and productivity, there are far fewer studies in this particular area examining the importance of sectoral externalities, especially focused on Spain. One novelty of this study, conducted for the industrial and service sectors, is that we also consider the technology level of the sector in which the firm operates and firm size. The database used is the Technological Innovation Panel (PITEC). It comprises 9,985 firms over the period 2004-2009 and has been used infrequently for studies of this type. The Olley and Pakes (1996) estimator is adopted in order to account for both simultaneity and selection biases providing consistent estimates. The results suggest that, unlike previous studies, R&D expenditures do not have a direct impact on firm performance. By contrast, spillovers do. In particular, intra-industry externalities present a positive and significant effect in low-tech and large firms. Inter-industry externalities, however, present an ambiguous effect and there appears to be no specific pattern of behaviour associated with technology level or firm size.

Innovation and business performance for Spanish SMEs: New evidence from a multi-dimensional approach

“…In this regard, several studies have provided empirical evidence that SME managers undertake the most important decisions within their organisations (Van Gills, 2005), including those regarding innovation strategies, and their managerial perceptions shape the firm’s strategic behaviour to a significant degree (Alegrem et al, 2011; Donate and Sánchez de Pablo, 2015). In addition, several recent studies suggest that self-reported information by managers can be used as an adequate approach to measure business performance and other strategy variables, such as innovation (Foreman-Peck, 2013; Goya et al, 2016; Madrid-Guijarro et al, 2013; Ramanadi et al, 2017; Ribau et al, 2017). 3…”

The Role of Financial Slack, Employee Creative Self-Efficacy and Learning Orientation in Innovation and Organizational Performance

“…In this regard, several studies have demonstrated empirical evidence that SME managers implement "the most important decisions within their organizations" (Van Gils 2005; Exposito and Sanchis-Llopis 2018), including those regarding innovation strategies and their managerial perceptions shape the firm's strategic behaviour to an essential degree Donate and Pablo 2015). Furthermore, several other studies suppose that self-reported information by managers can be used as an appropriate approach to measure business strategy variables including innovation and business performance (Foreman-Peck 2013; Goya et al 2016;Madrid-Guijarro et al 2013;Ramadani et al 2017;Ribau et al 2017;Exposito and Sanchis-Llopis 2018;Wang and Ahmed 2004) and financial slacks (Parida and Örtqvist 2015;Boso et al 2017).…”

Evaluación del impacto del programa Redes de Innovación

“…Desde la publicación de Griliches (1979) se ha desarrollado un amplio cuerpo de literatura que examina la relación entre la innovación, la productividad y el crecimiento empresarial (Coad et al, 2016;Goya et al, 2016). Dentro de este ámbito, se incluyen las actividades de I+D, aunque hay que tener en cuenta, que la innovación trasciende a otros ámbitos, como mª isabel martínez martín, miguel sánchez galindo, césar pérez lópez y rosa santero sánchez las infraestructuras tecnológicas y las estrategias de cooperación entre empresas y otros agentes (Audretsch y Callejón, 2007;Segarra, 2014).…”

“…En relación a los diferentes sectores de actividad, la evidencia empírica indica que el impacto de los gastos en innovación sobre la productividad es más fuerte en sectores de alta tecnología, aunque los efectos inter-industrias puede favorecer incluso a los sectores de bajo nivel tecnológico (Goya et al, 2016). En una agrupación de empresas en clústeres, Rodeiro y López (2007) encuentran que el clúster de empresas de tamaño mediano, innovadoras y eficientes, se encuentran principalmente en los sectores industriales y energéticos, mientras que el clúster de empresas pequeñas e innovadoras, tiene una mayor representación en sectores de servicios, de actividades inmobiliarias y empresariales, sectores que generalmente están vinculados con actividades de alto contenido tecnológico.…”

“…1. La productividad aparente del trabajo es sólo una parte de la productividad total, y es probable que si una empresa incrementa su productividad, también gane en competitividad (Goya et al, 2016;Pulido, 2005), aunque existen otros factores adicionales que mejoran la posición competitiva de las empresas.…”