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On the relationship between innovation and performance: A sensitivity analysis

  • Hans Loof
  • Almas Heshmati

We examine sensitivity of the estimated relationship between innovation and firm performance. In doing so, we rely on a knowledge production function approach and carry out comparisons in a number of ways. The sensitivity analysis is based on the comparison of a basic econometric model estimated assuming different error structure and using the same data source, an identical model but different data sources, different classifications of firms performance, different classifications of innovation and the two main different subpopulations of the business sector. The analyses are performed in both level and growth-rate dimensions. New findings are reported and previous results are confirmed as well. The study gives indications of what factors cause variations in the estimated effects of interest and the direction of changes.

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Article provided by Taylor & Francis Journals in its journal Economics of Innovation and New Technology.

Volume (Year): 15 (2006)
Issue (Month): 4-5 ()
Pages: 317-344

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Handle: RePEc:taf:ecinnt:v:15:y:2006:i:4-5:p:317-344
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  17. Zvi Griliches, 1998. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 17-45 National Bureau of Economic Research, Inc.
  18. Zvi Griliches, 1990. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc.
  19. Cohen, Wesley M & Klepper, Steven, 1996. "A Reprise of Size and R&D," Economic Journal, Royal Economic Society, vol. 106(437), pages 925-51, July.
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