R&D, firm size and incremental product innovation
AbstractThis article addresses an issue that is debated in the economics of innovation literature, namely the existence of increasing returns to R&D expenditures and firm size, in product innovation. It explores further how the firm's structural characteristics and contextual factors affect the sustained introduction of new components over a relatively long time period. Taking advantage of an original and unique database comprising information on new product announcements by leading semiconductor producers, we show that: (i) decreasing returns to size and R&D expenditures characterize the innovation production function of the sampled firms; (ii) producers operating a larger product portfolio exhibit a higher propensity to introduce new products than their specialized competitors; (iii) aging has positive bearings on the firm's ability to innovate.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Economics of Innovation and New Technology.
Volume (Year): 20 (2011)
Issue (Month): 5 ()
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Web page: http://www.tandfonline.com/GEIN20
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- Daron Acemoglu & Ufuk Akcigit & Nicholas Bloom & William R. Kerr, 2013.
"Innovation, reallocation and growth,"
LSE Research Online Documents on Economics
51556, London School of Economics and Political Science, LSE Library.
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- Acemoglu, Daron & Akcigit, Ufuk & Bloom , Nicholas & Kerr , William, 2013. "Innovation, reallocation and growth," Research Discussion Papers 22/2013, Bank of Finland.
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