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Into thin air: using a quantile regression approach to explore the relationship between R&D and innovation

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Author Info

  • Bernd Ebersberger
  • Orietta Marsili
  • Toke Reichstein
  • Ammon Salter

Abstract

Applying quantile regression to 760 Finnish firms, we show that the relationship between R&D and firm performance is less straight forward than so far assumed. OLS regression analysis fails to capture the effect of R&D expenditure at different locations on the performance distribution. We reveal that R&D matters, especially on the medium quantiles, while regressing against the upper quantiles of the economic gains from innovation distribution exhibit decreasing returns scale in R&D. Our results confirm that Gaussian statistics fail to capture the most interesting part of the distribution - namely the extreme observations located in the tails.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal International Review of Applied Economics.

Volume (Year): 24 (2010)
Issue (Month): 1 ()
Pages: 95-102

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Handle: RePEc:taf:irapec:v:24:y:2010:i:1:p:95-102

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Related research

Keywords: quantile regression; R&D; economic gains from innovation;

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Cited by:
  1. Barge-Gil, Andrés, 2011. "Open strategies and innovation performance," MPRA Paper 31298, University Library of Munich, Germany.
  2. Eric Bartelsman & Sabien Dobbelaere & Bettina Peters, 2013. "Allocation of Human Capital and Innovation at the Frontier: Firm-level Evidence on Germany and the Netherlands," Tinbergen Institute Discussion Papers 13-095/VII, Tinbergen Institute.
  3. 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.
  4. Bartelsman, Eric & Dobbelaere, Sabien & Peters, Bettina, 2013. "Allocation of Human Capital and Innovation at the Frontier: Firm-Level Evidence on Germany and the Netherlands," IZA Discussion Papers 7540, Institute for the Study of Labor (IZA).
  5. Westerberg, Hans Seerar, 2014. "The Return to R&D and Seller-buyer Interactions: A Quantile Regression Approach," Ratio Working Papers 231, The Ratio Institute.
  6. Gombau, Verònica & Segarra Blasco, Agustí, 2011. "Innovation and absorptive capacity: What is the role of technological frontier?," Working Papers 2072/179622, Universitat Rovira i Virgili, Department of Economics.

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