Reverse causality in the R&amp;D–patents relationship: an interpretation of the innovation persistence

Baraldi, Anna Laura; Cantabene, Claudia; Perani, Giulio

doi:10.1080/10438599.2013.848059

Cited by 17 publications

(11 citation statements)

References 81 publications

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“…R&D and patents). As suggested by previous studies, this finding is in line with the national level of our analysis (Baraldi et al, 2014;Shapiro, 2001) and can be justified taking into consideration that Italy is characterized by a low propensity to patent due to the weak level of protection of property rights (Levy-Carciente, 2017).…”

Section: Resultssupporting

confidence: 90%

“…R&D is the amount of research and development investments (million euro) as disclosed in the financial statement of the companies in our sample. We chose this variable to proxy for the innovation input as literature suggests that R&D investments represent the driver of innovation processes (Baraldi et al, 2014) and are essential to support companies in accumulating technological capabilities to develop innovation (Chen and Hsu, 2009;Midavaine et al, 2016;Zona et al, 2013).…”

Section: Dependent Variablesmentioning

confidence: 99%

“…PATENTS is the value of patents (million euro) disclosed in the financial statement of the companies in our sample. We chose this measure as it is considered as the most common one for the innovation output (Baraldi et al, 2014) and provides an objective information on the innovation and technological changes of companies (Hall et al, 2005;Kim and Kim, 2015) 4.3 Independent variables Our explanatory variables included the board human capital heterogeneity and the CEO expertise:…”

Section: Dependent Variablesmentioning

confidence: 99%

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Human capital and innovation: mixing apples and oranges on the board of high-tech firms

Sarto

Saggese

Viganò

et al. 2019

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Purpose The purpose of this paper is to provide insights into the implications of board human capital heterogeneity for company innovation by focusing on the educational and the functional background of directors. Moreover, it examines the moderating effect of the CEO expertise-overlap within the innovation domain on the relationship between board human capital heterogeneity and firm innovation. Design/methodology/approach The hypotheses are tested through a set of ordinary least squares regressions on a unique dataset of 149 Italian high-tech companies observed between 2012 and 2015. Findings Findings show that the educational and the functional background heterogeneity of directors increase both the innovation input and output. However, results highlight that these relationships are negatively moderated by the CEO expertise-overlap within the innovation domain. Practical implications The paper emphasizes the importance of appointing directors with different and specific educational and functional backgrounds to foster the company innovation. Originality/value The paper fills a gap in the literature as it has devoted limited attention to the performance implications of board human capital heterogeneity in the high-tech industry where knowledge and skills are the primary sources of value. Moreover, the paper integrates the research on the CEO-board interface by shedding light on how the CEO expertise within the innovation domain affects the contribution of heterogeneous boards to company innovation.

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Section: Resultssupporting

confidence: 90%

Section: Dependent Variablesmentioning

confidence: 99%

Section: Dependent Variablesmentioning

confidence: 99%

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Human capital and innovation: mixing apples and oranges on the board of high-tech firms

Sarto

Saggese

Viganò

et al. 2019

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“…The number of patents, being a variable depending upon R&D outlays and R&D employed, should be researched in the dimension of time (relation). Consequently, a selection of delays ought to be taken into account [30]. Through investing in R&D, patents are related to investment risk [31].…”

Section: Econometric Model and Dependencesmentioning

confidence: 99%

The Dependence of Patents From R&D Outlays and R&D Employees in European Union Countries

Zwolak

2021

Wseas Transactions on Business and Economics

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The research described herein seeks to determine the regressive dependence of the number of patents on the outlays on research-and-development and the number of those employed in the R&D sector, and to calculate on this basis the marginal and average cost/resource-intensity and labour-intensity of patents in the European Union countries in the years 2016 and 2019. Studies have shown that the total of the flexibility of the number of patents versus R&D outlays and R&D employment was identical for both years (i.e., 0.97). Hence, a method to determine whether undulation exists with the same total flexibility has been demonstrated. A 5.4 per cent decrease in the intensity of flexibility in the number of patents was identified for 2019. The research has shown that the growth in the number of patents proves to be in line with the growth of mean labour-intensity of patents for the years concerned. This proves that the knowledge resource plays a specific part in creating the number of patents for the counties and years under examination

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“…Persistence seems to be driven both by sunk costs, success-breeds-success and demand-pull. Baraldi et al (2013) find that persistence in R&D depends on the market structure as only firms in oligopolistic markets (Schumpeter I industries) show persistent R&D efforts. Woerter (2014) supports this finding based on Swiss data since persistence in R&D expenditures is more likely for firms with few competitors.…”

Section: Background -Persistence Of Innovation Activities and Its Relmentioning

confidence: 99%

Concentration on the Few? R&D and Innovation in German Firms 2001 to 2013

Rammer

Schubert

2016

SSRN Journal

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Die Dis cus si on Pape rs die nen einer mög lichst schnel len Ver brei tung von neue ren For schungs arbei ten des ZEW. Die Bei trä ge lie gen in allei ni ger Ver ant wor tung der Auto ren und stel len nicht not wen di ger wei se die Mei nung des ZEW dar.Dis cus si on Papers are inten ded to make results of ZEW research prompt ly avai la ble to other eco no mists in order to encou ra ge dis cus si on and sug gesti ons for revi si ons. The aut hors are sole ly respon si ble for the con tents which do not neces sa ri ly repre sent the opi ni on of the ZEW. Abstract: Innovation activities in the German enterprise sector showed two opposing trends over the past two decades: While total innovation expenditures grew substantially, the number of firms conducting innovation activities fell sharply. Innovation expenditures hence concentrate on fewer firms. In this paper we analyse the evolution of firms' innovation and R&D activities. Based on panel data from the German part of the Community Innovation Survey covering a 13 years period (2001 to 2013) we use continuous-time Markov-Chains to analyse the changing properties of the firms' choices to conduct R&D and non-R&D innovation activities. Our findings are threefold. As compared to the pre-crisis period [2001][2002][2003][2004][2005][2006][2007] there is a considerable change in innovation and R&D behaviour of German firms from 2008 onwards with an increasing number of firms exiting R&D and innovation activities. Smaller firms are the main driver behind this process, particularly with regard to quitting non-R&D innovation activities. Although smaller firms were also less likely to move to higher levels of innovativeness and R&D engagement and more likely to fall back in the pre-crisis period, these trends have been more pronounced in the crisis and even in the post-crisis period. Both public innovation support and better financial capabilities can increase the rate chances to move to higher levels of innovativeness and reduce the chances to fall back. Concentration on the

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Reverse causality in the R&D–patents relationship: an interpretation of the innovation persistence

Cited by 17 publications

References 81 publications

Human capital and innovation: mixing apples and oranges on the board of high-tech firms

Human capital and innovation: mixing apples and oranges on the board of high-tech firms

The Dependence of Patents From R&D Outlays and R&D Employees in European Union Countries

Concentration on the Few? R&D and Innovation in German Firms 2001 to 2013

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