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The determinants of YIc's R&D activity

  • Identification data

    Identifier:  PC:2421
    Authors:  Vivarelli, Marco; Pellegrino, Gabriele; García, José, 1963-
    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.
  • Others:

    Publisher: Xarxa de Referència en Economia Aplicada (XREAP)
    Date: 2011-12
    Identifier: http://hdl.handle.net/2072/179209
    Departament/Institute: Xarxa de Referència en Economia Aplicada (XREAP)
    Language: eng
    Author: Vivarelli, Marco, Pellegrino, Gabriele, García, José, 1963-
    Relation: XREAP;2011-20
    Source: RECERCAT (Dipòsit de la Recerca de Catalunya)
    Format: 45 p.
  • Keywords:

    332 - Economia regional i territorial. Economia del sòl i de la vivenda
    33 - Economia
    Innovacions tecnològiques
    Empreses
    Economia
    Enterprises
    Technological innovations
    Economy
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