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Intangible Assets in Finnish Business

Author

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  • Pajarinen, Mika
  • Rouvinen, Petri

Abstract

This working paper investigates intangible investments in Finnish firms from 2014 to 2019, utilizing comprehensive, register-based data from Statistics Finland. We analyze seven categories of internal intangible investments and observe that these investments are highly concentrated, with the top 10% of investors accounting for approximately two-thirds of the total. However, this concentration is comparable to that of employment, value added, and tangible investments. Firms that invest in intangibles generally exhibit higher productivity levels. Specifically, organizational capital and new financial products demonstrate a positive and statistically significant correlation with labor productivity. These findings highlight the significance of intangible investments for firm performance and offer insights into their distribution patterns within the Finnish business sector.

Suggested Citation

  • Pajarinen, Mika & Rouvinen, Petri, 2025. "Intangible Assets in Finnish Business," ETLA Working Papers 129, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:wpaper:129
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    References listed on IDEAS

    as
    1. Dolores Añón Higón & Jaime Gómez & Pilar Vargas, 2017. "Complementarities in innovation strategy: do intangibles play a role in enhancing firm performance?," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 26(5), pages 865-886.
    2. Pekka Ilmakunnas & Hannu Piekkola, 2014. "Intangible investment in people and productivity," Journal of Productivity Analysis, Springer, vol. 41(3), pages 443-456, June.
    3. Carol Corrado & Jonathan Haskel & Cecilia Jona-Lasinio & Massimiliano Iommi, 2022. "Intangible Capital and Modern Economies," Journal of Economic Perspectives, American Economic Association, vol. 36(3), pages 3-28, Summer.
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    More about this item

    Keywords

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    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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