Persistence of innovation and firm’s growth: evidence from a panel of SME and large Spanish manufacturing firms

Triguero, Ángela; Córcoles, David; Cuerva, María C.

doi:10.1007/s11187-014-9562-8

Cited by 57 publications

(33 citation statements)

References 32 publications

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“…Compared to non-patenting firms, firms engaged in patenting have more skilled labour, larger profit margins and better access to bank loans, and often such firms belong to the high-technology segment of industries. Similar findings are reported by Deschryvere (2014), using data on Finnish firms, and Triguero et al (2014), analysing Spanish firms.…”

Section: Relating Innovation To Firm Growthsupporting

confidence: 84%

Does Innovation Lead to Firm Growth? Explorative versus Exploitative Innovations

Ding

Braunerhjelm

2016

SSRN Journal

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In this paper, we examine the relationship between innovation and firm growth. We implement a classification of innovations based on whether they are explorative or exploitative, taking advantage of a unique Swedish dataset for the period 1997 to 2012. The data allow us to construct each firm's innovation history. Panel regression estimations, together with an instrumental variable method, confirm a significant and positive effect of both exploitative and explorative innovation on firms' employment growth. More radical explorative innovations are shown to have a more persistent growth effect, whereas exploitative innovation increases labour demand in the short run. We also provide empirical findings regarding the effect of innovations distributed on size classes and different ownership structures.

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Section: Relating Innovation To Firm Growthsupporting

confidence: 84%

Does Innovation Lead to Firm Growth? Explorative versus Exploitative Innovations

Ding

Braunerhjelm

2016

SSRN Journal

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“…In this respect, Triguero et al . () use Spanish panel data between 1990 and 2008 to further investigate whether firms show heterogeneous responses in employment growth depending on the degree of persistence of their different innovative activities, comparing Small and Medium Enterprises (SMEs) and larger firms. Similarly to Lachenmaier and Rottmann (), using a System‐GMM estimator, they support the existence of a positive link between persistent process innovation activities and employment growth, with the magnitude of such an effect increasing with the time lag considered, especially for SMEs.…”

Section: From Firms To Sectors: the Role Of Aggregationmentioning

confidence: 99%

The Innovation‐employment Nexus: A Critical Survey of Theory and Empirics

Calvino

Virgillito

2017

Journal of Economic Surveys

162

128

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractUnderstanding whether technical change is beneficial or detrimental for employment is at the center of the policy debate, especially in phases of economic recession. So far, the effects of innovation -in its manifold declinations and intrinsic complexity -on labour demand have proven to be not unequivocal. This essay critically reviews the role of technical change in shaping employment dynamics at different levels of aggregation. Firstly, it disentangles theoretically the role of different compensation mechanisms through which employment adjusts after an innovation is introduced. Secondly, it critically presents the most recent empirical evidence on the topic, with a focus on methods and limitations. Finally, it provides an attempt to conceptualize a number of stylized facts and empirical regularities on the innovation-employment nexus.JEL classification: D21, J23, L10, O31, O33.

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“…Such persistency patterns in SMEs can be particularly relevant in high-tech industries (Máñez et al, 2014), where the role technological start-ups is potentially significant (Santarelli and Vivarelli, 2007) and, in general, have been found to represent an important source of employment and productivity growth (Triguero et al, 2014) Finally in this analysis we highlight the role of system properties such as the amount of knowledge externalities and the dynamics of market forces. As the economics of knowledge suggests, different forms of external knowledge, i.e.…”

Section: The Sources Of Persistence In Productivity Growthmentioning

confidence: 90%

Productivity growth persistence: firm strategies, size and system properties

2015

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ABSTRACT.This paper investigates the dynamics of productivity in a large sample of Italian manufacturing firms, focusing on the determinants of firm-level persistence in time of high Total Factor Productivity (TFP) growth rates relative to the corresponding sectoral distributions. In particular, we assess the impact of both the internal characteristics of companies, including size and management strategies, and external systemic conditions, including business cycles and regional innovation performance. In order to disentangle the effects of the mix of internal and systemic factors in shaping firm-level persistence, we implement both Transition Probability Matrices and dynamic probit models. Results reveal the presence of significant persistence in TFP growth rates. Such persistence turns out to be path dependent since it is shaped by a number of complementary and contingent factors that locally affect the dynamics of the process.

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Persistence of innovation and firm’s growth: evidence from a panel of SME and large Spanish manufacturing firms

Cited by 57 publications

References 32 publications

Does Innovation Lead to Firm Growth? Explorative versus Exploitative Innovations

Does Innovation Lead to Firm Growth? Explorative versus Exploitative Innovations

The Innovation‐employment Nexus: A Critical Survey of Theory and Empirics

Productivity growth persistence: firm strategies, size and system properties

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