Innovation, profitability and growth in medium and high-tech manufacturing industries: Evidence from Italy
AbstractThe main goal of this paper is to assess the impact of product innovation on the economic performance of firms operating in medium and high-tech industries in general and of SMEs in particular. Using information from a large and unique dataset on Italian firms we estimate, by means of propensity scores matching methods, a positive and significant “innovation premium” both in terms of profitability and growth (in the short run) for those firms who introduced new innovative products. We also find that this innovation premium is particularly large for small firms and even more so when considering new established firms.
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Bibliographic InfoPaper provided by KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy in its series KITeS Working Papers with number 028.
Length: 27 pages
Date of creation: 2009
Date of revision: 2009
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Other versions of this item:
- Claudio Cozza & Franco Malerba & Maria Luisa Mancusi & Giulio Perani & Andrea Vezzulli, 2012. "Innovation, profitability and growth in medium and high-tech manufacturing industries: evidence from Italy," Applied Economics, Taylor & Francis Journals, vol. 44(15), pages 1963-1976, May.
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
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