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A portrait of U.S. firms that invest in R&D

Author

Listed:
  • Lucia Foster
  • Cheryl Grim
  • Nikolas Zolas

Abstract

This paper combines micro-level cross-sectional data from the Survey of Industrial Research and Development (SIRD) and the Business Research & Development and Innovation Survey (BRDIS) with the Longitudinal Business Database (LBD) to characterize U.S. firms that invest in research and development (R&D). The result is a firm-level panel data set from 1992 to 2013 that tracks firms as they enter and exit the R&D surveys. Using R&D expenditures to proxy R&D performance, we find that the majority of R&D is performed by large manufacturing firms that export, but the composition of R&D performing firms has gradually shifted more towards smaller nonmanufacturing firms. We find a high degree of persistence in R&D investment with previous R&D experience being a significant determinant of current R&D intensity, even after controlling for individual firm effects. We also uncover differences in observable firm characteristics between manufacturing and nonmanufacturing, as well as small and large, R&D performing firms.

Suggested Citation

  • Lucia Foster & Cheryl Grim & Nikolas Zolas, 2020. "A portrait of U.S. firms that invest in R&D," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 29(1), pages 89-111, January.
    • Handle: RePEc:taf:ecinnt:v:29:y:2020:i:1:p:89-111
    DOI: 10.1080/10438599.2019.1595366
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    Cited by:

    1. Nikolas Zolas & Zachary Kroff & Erik Brynjolfsson & Kristina McElheran & David N. Beede & Cathy Buffington & Nathan Goldschlag & Lucia Foster & Emin Dinlersoz, 2020. "Advanced Technologies Adoption and Use by U.S. Firms: Evidence from the Annual Business Survey," NBER Working Papers 28290, National Bureau of Economic Research, Inc.
    2. Emin M. Dinlersoz & Nathan Goldschlag & Amanda Myers & Nikolas Zolas, 2018. "An Anatomy of US Firms Seeking Trademark Registration," NBER Chapters, in: Measuring and Accounting for Innovation in the Twenty-First Century, pages 183-228, National Bureau of Economic Research, Inc.
    3. Aysun, Uluc, 2020. "Volatility costs of R&D," European Economic Review, Elsevier, vol. 122(C).
    4. Aysun, Uluc, 2024. "Technology diffusion and international business cycles," Journal of International Money and Finance, Elsevier, vol. 140(C).
    5. Lucia Foster & Cheryl Grim & John C. Haltiwanger & Zoltan Wolf, 2019. "Innovation, Productivity Dispersion, and Productivity Growth," NBER Chapters, in: Measuring and Accounting for Innovation in the Twenty-First Century, pages 103-136, National Bureau of Economic Research, Inc.
    6. Shen, Binchao, 2025. "Intermediated trade and innovation," Journal of Economic Behavior & Organization, Elsevier, vol. 229(C).
    7. Akcigit, Ufuk & Dinlersoz, Emin & Greenwood, Jeremy & Penciakova, Veronika, 2022. "Synergizing ventures," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    8. Filippo Mezzanotti & Timothy Simcoe, 2022. "Innovation and Appropriability: Revisiting the Role of Intellectual Property," Working Papers 22-09, Center for Economic Studies, U.S. Census Bureau.
    9. Ufuk Akcigit & Nathan Goldschlag, 2025. "Measuring the characteristics and employment dynamics of U.S. inventors," Journal of Economic Growth, Springer, vol. 30(2), pages 237-269, June.
    10. Impullitti, Giammario & Licandro, Omar & Rendahl, Pontus, 2022. "Technology, market structure and the gains from trade," Journal of International Economics, Elsevier, vol. 135(C).
    11. Uluc Aysun & Zeynep Yom, 2021. "R&D Characteristics, Innovation Spillover, and Technology-Driven Business Cycles," Journal of Industry, Competition and Trade, Springer, vol. 21(3), pages 339-365, September.
    12. Lorenz Ekerdt, 2024. "The Role of R&D Factors in Economic Growth," Working Papers 24-69, Center for Economic Studies, U.S. Census Bureau.
    13. Cirera, Xavier & Comin, Diego & Cruz, Marcio & Lee, Kyung Min & Martins-Neto, Antonio, 2023. "Exporting and Technology Adoption in Brazil," World Trade Review, Cambridge University Press, vol. 22(3-4), pages 334-347, October.
    14. Uluc Aysun & Zeynep Yom, 2019. "R&D, innovation spillover and business cycles," Villanova School of Business Department of Economics and Statistics Working Paper Series 43, Villanova School of Business Department of Economics and Statistics.
    15. Zhou, Hua & Zhang, Xiaodong & Yang, Lun, 2025. "Balancing export intensity and innovation: Uncovering the inverted-U relationship in Chinese manufacturing firms," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 1830-1845.
    16. Juana Sanchez & Sydney Noelle Kahmann, 2017. "R&D, Attrition and Multiple Imputation in BRDIS," Working Papers 17-13, Center for Economic Studies, U.S. Census Bureau.
    17. Filippo Mezzanotti & Timothy Simcoe, 2023. "Research and/or Development? Financial Frictions and Innovation Investment," Working Papers 23-39, Center for Economic Studies, U.S. Census Bureau.
    18. Nathan Goldschlag & Elisabeth Perlman, 2017. "Business Dynamic Statistics of Innovative Firms," Working Papers 17-72, Center for Economic Studies, U.S. Census Bureau.

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