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R&D, Firm Size, and Product Innovation Dynamics

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Author Info
Marco Corsino
Giuseppe Espa
Rocco Micciolo ()

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Abstract

This paper addresses a debated issue in the economics innovation literature, namely the existence of increasing return to R&D expenditures and sirm size on innovation output. It further explores how structural characteristics of the sirm as well as contextual factors affect the dynamics of product innovation over a relatively long period of time. Taking advantage of an original and unique database comprising innovation data recorded on a monthly base we show that: (i) a negative binomial distribution model is able to predict with great accuracy the probability of having a given number of product announcement sent out in a month; (ii) constant returns to size and R&D expenditure may reasonably characterize the innovation production function of sampled sirms; (iii) vertically integrated manufacturers as well as producers operating a larger product portfolio exhibit a higher propensity to introduce new products than their specialized competitors.

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Paper provided by Department of Computer and Management Sciences, University of Trento, Italy in its series ROCK Working Papers with number 045.

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Length: 22 pages
Date of creation: May 2008
Date of revision: 12 Jun 2008
Handle: RePEc:trt:rockwp:045

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  1. Kamien, Morton I & Schwartz, Nancy L, 1975. "Market Structure and Innovation: A Survey," Journal of Economic Literature, American Economic Association, vol. 13(1), pages 1-37, March. [Downloadable!] (restricted)
  2. Kohn, Meir & Scott, John T, 1982. "Scale Economies in Research and Development: The Schumpeterian Hypothesis," Journal of Industrial Economics, Blackwell Publishing, vol. 30(3), pages 239-49, March. [Downloadable!] (restricted)
  3. Acs, Zoltan J & Audretsch, David B, 1988. "Innovation in Large and Small Firms: An Empirical Analysis," American Economic Review, American Economic Association, vol. 78(4), pages 678-90, September. [Downloadable!] (restricted)
  4. Alfred Kleinknecht & Kees van Montfort & Erik Brouwer, 2002. "The Non-Trivial Choice between Innovation Indicators," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 11(2), pages 109-121, January. [Downloadable!] (restricted)
  5. Malerba, Franco & Orsenigo, Luigi, 1996. "The Dynamics and Evolution of Industries," Industrial and Corporate Change, Oxford University Press, vol. 5(1), pages 51-87.
  6. Bruno Crépon ; Emmanuel Duguet ; Jacques Mairesse, . "Research, Innovation and Productivity : An Econometric Analysis at the Firm Level," Working Papers 98-33, Centre de Recherche en Economie et Statistique. [Downloadable!]
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  7. Fisher, Franklin M & Temin, Peter, 1973. "Returns to Scale in Research and Development: What Does the Schumpeterian Hypothesis Imply ?," Journal of Political Economy, University of Chicago Press, vol. 81(1), pages 56-70, Jan.-Feb.. [Downloadable!] (restricted)
  8. Teece, David J. & Rumelt, Richard & Dosi, Giovanni & Winter, Sidney, 1994. "Understanding corporate coherence : Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 23(1), pages 1-30, January. [Downloadable!] (restricted)
  9. Coombs, R. & Narandren, P. & Richards, A., 1996. "A literature-based innovation output indicator," Research Policy, Elsevier, vol. 25(3), pages 403-413, May. [Downloadable!] (restricted)
  10. Cohen, Wesley M. & Levin, Richard C., 1989. "Empirical studies of innovation and market structure," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 18, pages 1059-1107 Elsevier. [Downloadable!] (restricted)
  11. Santarelli, Enrico & Piergiovanni, Roberta, 1996. "Analyzing literature-based innovation output indicators: the Italian experience," Research Policy, Elsevier, vol. 25(5), pages 689-711, August. [Downloadable!] (restricted)
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  12. Geroski, P. A. & Van Reenen, J. & Walters, C. F., 1997. "How persistently do firms innovate?," Research Policy, Elsevier, vol. 26(1), pages 33-48, March. [Downloadable!] (restricted)
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  13. Tether, B. S., 1998. "Small and large firms: sources of unequal innovations?," Research Policy, Elsevier, vol. 27(7), pages 725-745, November. [Downloadable!] (restricted)
  14. Rosenberg, Nathan & Steinmueller, W Edward, 1988. "Why Are Americans Such Poor Imitators?," American Economic Review, American Economic Association, vol. 78(2), pages 229-34, May. [Downloadable!] (restricted)
  15. Flor, M. L. & Oltra, M. J., 2004. "Identification of innovating firms through technological innovation indicators: an application to the Spanish ceramic tile industry," Research Policy, Elsevier, vol. 33(2), pages 323-336, March. [Downloadable!] (restricted)
  16. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67, pages 297. [Downloadable!] (restricted)
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