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The determinants of R&D persistence in SMEs

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  • Juan Máñez
  • María Rochina-Barrachina
  • Amparo Sanchis-Llopis
  • Juan Sanchis-Llopis

Abstract

This paper analyses the sources of persistence in conducting R&D activities by SMEs. The data used are a panel of Spanish manufacturing firms drawn from the Survey of Business Strategies, for the period 1990–2011. We estimate discrete time proportional hazard models accounting for firm observed and unobserved heterogeneity. Our results are consistent with a process of learning associated with the accumulation of R&D capital and with a self-sustained effect of engagement in R&D activities. In addition, we obtain that persistence in R&D in SMEs is also related to the success-breeds-success, sunk costs and demand-pull hypotheses. Finally, our findings also uncover some interesting differences in the underlying drivers of R&D persistence of SMEs as compared to their larger counterparts. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Juan Máñez & María Rochina-Barrachina & Amparo Sanchis-Llopis & Juan Sanchis-Llopis, 2015. "The determinants of R&D persistence in SMEs," Small Business Economics, Springer, vol. 44(3), pages 505-528, March.
    • Handle: RePEc:kap:sbusec:v:44:y:2015:i:3:p:505-528
    DOI: 10.1007/s11187-014-9611-3
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    6. Cristiano Antonelli & Francesco Crespi & Giuseppe Scellato, 2018. "Productivity growth persistence: firm strategies, size and system properties," Chapters, in: The Evolutionary Complexity of Endogenous Innovation, chapter 8, pages 176-202, Edward Elgar Publishing.
    7. Sungmoon Jung & Gihyun Kwak, 2018. "Firm Characteristics, Uncertainty and Research and Development (R&D) Investment: The Role of Size and Innovation Capacity," Sustainability, MDPI, vol. 10(5), pages 1-14, May.
    8. Barge-Gil, Andres & D'Este, Pablo & Herrera, Liliana, 2018. "Corporate scientists as the triggers of transitions towards firms' exploration research strategies," MPRA Paper 85415, University Library of Munich, Germany.
    9. Mañez, J.A. & Love, J.H., 2020. "Quantifying sunk costs and learning effects in R&D persistence," Research Policy, Elsevier, vol. 49(7).
    10. Fontana, Roberto & Vezzulli, Andrea, 2016. "Technological leadership and persistence in product innovation in the Local Area Network industry 1990–1999," Research Policy, Elsevier, vol. 45(8), pages 1604-1619.
    11. Juan A. Máñez Castillejo & Oscar Vicente-Chirivella, 2019. "Exports of Spanish manufacturing firms and financial constraints," Working Papers 1921, Department of Applied Economics II, Universidad de Valencia.
    12. Labeaga, José M. & Martínez-Ros, Ester & Sanchis, Amparo & Sanchis, Juan A., 2021. "Does persistence in using R&D tax credits help to achieve product innovations?," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    13. Rammer, Christian & Schubert, Torben, 2016. "Concentration on the few? R&D and innovation in German firms 2001 to 2013," ZEW Discussion Papers 16-005, ZEW - Leibniz Centre for European Economic Research.
    14. Carlo Corradini & Pelin Demirel & Giuliana Battisti, 2016. "Technological diversification within UK’s small serial innovators," Small Business Economics, Springer, vol. 47(1), pages 163-177, June.
    15. Istipliler, Baris & Bort, Suleika & Woywode, Michael, 2023. "Flowers of adversity: Institutional constraints and innovative SMEs in transition economies," Journal of Business Research, Elsevier, vol. 154(C).

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    More about this item

    Keywords

    SMEs; R&D activities; Persistence; Learning; Success-breeds-success; Sunk costs; Demand-pull; Discrete time survival models; C41; L60; O31; L26;
    All these keywords.

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • 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

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