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Firm age and innovation

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  • Natarajan Balasubramanian
  • Jeongsik Lee

Abstract

We examine how firm age relates to innovtion quality, and how this relationship varies depending on the nature of technology. Using data on patents of COMPUSTAT firms, we find that firm age is negatively related to technical quality, and that this effect is greater in technologically active areas. The economic implication of this effect is substantial; each additional year reduces the impact of a 10% increase in R&D intensity on the firm's market value by over 3%. Copyright 2008 , Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/icc/dtn028
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Bibliographic Info

Article provided by Oxford University Press in its journal Industrial and Corporate Change.

Volume (Year): 17 (2008)
Issue (Month): 5 (October)
Pages: 1019-1047

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Handle: RePEc:oup:indcch:v:17:y:2008:i:5:p:1019-1047

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Cited by:
  1. Natália Barbosa & Ana Paula Faria & Vasco Eiriz, 2013. "Industry - and firm-specific factors of innovation novelty," NIPE Working Papers 10/2013, NIPE - Universidade do Minho.
  2. Coad, Alex & Segarra Blasco, Agustí, 1958- & Teruel, Mercedes, 2013. "Innovation and firm growth: Does firm age play a role?," Working Papers 2072/211886, Universitat Rovira i Virgili, Department of Economics.
  3. Criscuolo, Paola & Nicolaou, Nicos & Salter, Ammon, 2012. "The elixir (or burden) of youth? Exploring differences in innovation between start-ups and established firms," Research Policy, Elsevier, vol. 41(2), pages 319-333.
  4. Nicolau, Juan Luis & Santa-María, María Jesús, 2013. "Communicating excellence in innovation," Economics Letters, Elsevier, vol. 118(1), pages 87-90.
  5. Florian Noseleit, 2011. "Entrepreneurship, Structural Change, and Economic Growth," ERSA conference papers ersa11p427, European Regional Science Association.

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