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Innovation Strategy and Firm Performance What is the long-run impact of persistent R&D?

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Author Info

  • Börje, Johansson

    ()
    (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology)

  • Hans, Lööf

    ()
    (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology)

Abstract

There are systematic long-run differences in the performance of firms explained by the R&D-strategy that each firm employs. Controlling for unobservable heterogeneity, past performance and other firm characteristics, this paper shows that labour productivity is, on average, 13 percent higher among firms with persistent R&D commitment and 9 percent higher among firms which make occasional R&D efforts when compared with non-R&D-firms. Furthermore, firms which employ a strategy with persistent R&D efforts are rewarded with a productivity growth rate that on average is about 2 percent higher than for other firms. The results are similar when firm performance is measured as total sales or exports per labor input.

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Bibliographic Info

Paper provided by Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies in its series Working Paper Series in Economics and Institutions of Innovation with number 240.

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Length: 28 pages
Date of creation: 07 Sep 2010
Date of revision:
Handle: RePEc:hhs:cesisp:0240

Contact details of provider:
Postal: CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology, SE-100 44 Stockholm, Sweden
Phone: +46 8 790 95 63
Web page: http://www.infra.kth.se/cesis/
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Related research

Keywords: R&D; Innovation-strategy; productivity; export; dynamic panel-data;

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Cited by:
  1. LE BAS Christian & MOTHE Caroline & NGUYEN Thi Thuc Uyen, 2011. "Technological innovation persistence: Literature survey and exploration of the role of organizational innovation," CEPS/INSTEAD Working Paper Series 2011-54, CEPS/INSTEAD.

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