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Does Innovation Outcomes Influence Performance Of Indian Manufacturing Firms?

Author

Listed:
  • Badri Narayan Rath

    (Indian Institute of Technology Hyderabad)

  • Poulomi Bhattacahrya

    (Tata Institute of Social Sciences)

Abstract

This paper investigates the impact of innovation on the performance of selected manufacturing firms in India over the period 2008-2017. Specifically, we emphasize on the role of innovation outcomes in terms of number of patents on firms’ performance and consider total factor productivity growth, firms’ growth in terms of total gross sales, and profitability as indicators of firm performance. The results based on the panel Feasible Generalized Least Square estimator shows that the effect of innovation on firms’ performance is positive. Further, the impact of innovation on performance is higher for large firms compared to small firms.

Suggested Citation

  • Badri Narayan Rath & Poulomi Bhattacahrya, 2022. "Does Innovation Outcomes Influence Performance Of Indian Manufacturing Firms?," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 25(Special I), pages 85-102, March.
    • Handle: RePEc:idn:journl:v:25:y:2022:i:spg:p:85-102
    DOI: https://doi.org/10.21098/bemp.v25i0.1824
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    More about this item

    Keywords

    Total factor productivity; Patent; R&D intensity; Panel FGLS; Manufacturing firms;
    All these keywords.

    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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