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  1. Discovering pre-entry knowledge complexity with patent topic modeling and the post-entry growth of Italian firms
    Autor*in: Guerzoni, Marco; Nuccio, Massimiliano; Tamagni, Federico
    Erschienen: [2022]
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    Innovation studies have largely recognized the role of knowledge in fostering innovation and growth of entrants. Previous literature has focused on entrepreneurial and managerial capabilities and education and knowledge incorporated in material and... mehr

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    Innovation studies have largely recognized the role of knowledge in fostering innovation and growth of entrants. Previous literature has focused on entrepreneurial and managerial capabilities and education and knowledge incorporated in material and immaterial resources. We assume that new firms need to possess different pieces of knowledge, but beyond diversity, business performance relies also on knowledge distinctiveness. In other words, the complexity of a knowledge base is not simply the recombination of homogeneous pieces of knowledge but it also depends on the specific nature of each of them. This paper develops a new complexity indicator able to capture the complexity of the knowledge base by applying a topic modeling approach to the analysis of patent text. We explore the empirical relation between pre-entry complexity of knowledge, as measured by our complexity index, and post-entry growth performance of a sample of Italian firms entering the market in 2009-2011, which we then follow over the period 2012-2021. Baseline results show a significant and positive association between knowledge complexity and growth, even after controlling for firm characteristics and year, sector and region fixed-effects. Robustness analysis reveal this positive effect is stronger in the medium-long run while relatively weaker for innovative SMEs.

     
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    hdl: 10419/273627
    Schriftenreihe: LEM working paper series ; 2022, 25 (September 2022)
    Schlagworte: pre-entry knowledge base; complexity; text analysis; patents; firm growth; post-entry performance
    Umfang: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  2. Persistence in firm growth
    inference from conditional quantile transition matrices
    Autor*in: Bottazzi, Giulio; Kang, Taewon; Tamagni, Federico
    Erschienen: [2022]
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    We propose a new methodology to assess the degree of persistence in firm growth, based on Conditional Quantile Transition Probability Matrices (CQTPMs) and well-known indexes of intra-distributional mobility. Improving upon previous studies, the... mehr

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    We propose a new methodology to assess the degree of persistence in firm growth, based on Conditional Quantile Transition Probability Matrices (CQTPMs) and well-known indexes of intra-distributional mobility. Improving upon previous studies, the method allows for exact statistical inference about TPMs properties, at the same time controlling for spurious sources of persistence due to confounding factors such as firm size, and sector-, country- and time-effects. We apply our methodology to study manufacturing firms in the UK and four major European economies over the period 2010-2017. The findings reveal that, despite we reject the null of fully independent firm growth process, growth patterns display considerable turbulence and large bouncing effects. We also document that productivity, openness to trade, and business dynamism are the primary sources of firm growth persistence across sectors. Our approach is flexible and suitable to wide applicability in firm empirics, beyond firm growth studies, as a tool to examine persistence in other dimensions of firm performance.

     
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    hdl: 10419/273629
    Schriftenreihe: LEM working paper series ; 2022, 27 (September 2022)
    Schlagworte: Firm growth persistence; Transition probability matrices; Mobility indexes; Non-parametric statistics
    Umfang: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  3. Long-term firm growth
    an empirical analysis of US manufacturers 1959-2015
    Autor*in: Dosi, Giovanni; Grazzi, Marco; Moschella, Daniele; Pisano, Gary P.; Tamagni, Federico
    Erschienen: [2019]
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    Firm growth is an essential feature of market economies, shaping together macroeconomic performance and the evolution of industry structures. As a potential indicator of organizational "fitness" within a competitive environment, firm growth is also a... mehr

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    Firm growth is an essential feature of market economies, shaping together macroeconomic performance and the evolution of industry structures. As a potential indicator of organizational "fitness" within a competitive environment, firm growth is also a central concern to both the practice and theory of business strategy. Despite both its theoretical and practical importance, though, growth remains a poorly understood property of firms. While previous studies have documented the highly skewed nature of firm growth rates, we know far less about the persistence of growth rates over long-periods of time. For instance, do "fast growers" tend to maintain their relative growth rates advantages over long-periods or is superior growth a transitory phenomenon? Is, as predicted by evolutionary and capability based theories of the firm, the process of firm growth path-dependent or is it more akin to a random walk? The answers to these questions are central to building a robust theory of firm growth. This paper attempts to address this gap in our empirical knowledge of firm growth using a dataset that spans 50 years, which allows the abandonment of the assumption, common to all incumbent studies, that the stochastic paths of all firms stem from the same generating process. These exploratory results indicate that growth rate persistence is there and my be even substantial for some firms, but it is rare. We also study the links between the micro- properties of firm growth within sectors and the patterns of aggregate growth of these same sectors. Indeed, we find circumstantial but widespread evidence that heterogeneity across firms correlates with industry dynamism.

     
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    hdl: 10419/203103
    Schriftenreihe: LEM working paper series ; 2019, 13 (May 2019)
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
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    Richtiger Name des Verfassers: Giovanni Dosi
  4. The evolution of the world trade and the Italian "anomaly"
    a new look
    Autor*in: Di Maio, Michele; Tamagni, Federico
    Erschienen: 2007
    Verlag:  Centro Studi Luca d'Agliano, Torino

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    Schriftenreihe: Development studies working papers ; 227
    Schlagworte: Internationale Arbeitsteilung; Internationale Wirtschaft; Außenhandelsstruktur; Komparativer Vorteil; Italien
    Umfang: 25 S., graph. Darst.
  5. Export activities under financial constraints
    margins, quantities and prices
    Autor*in: Secchi, Angelo; Tamagni, Federico; Tomasi, Chiara
    Erschienen: 2011
    Verlag:  Laboratory of Economics and Management, Sant'Anna School of Advanced Studies, Pisa

    This paper provides a comprehensive analysis of the role that financial constraints play in shaping firms' export activities. We use custom information on cross borders transactions for Italian firms, together with an informative measure of financing... mehr

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    This paper provides a comprehensive analysis of the role that financial constraints play in shaping firms' export activities. We use custom information on cross borders transactions for Italian firms, together with an informative measure of financing constraints based on an official credit rating issued by an independent institution. Controlling for potential selection bias our results confirm that limited access to external capital narrows the scale of foreign sales, the exporters' product scope and the number of trade partners. We enrich previous analyses showing that financial problems influence firms' strategies of switching among products or destinations, and also affect firms' pricing decisions. Constrained firms have a reduced probability of adding new products or destinations and a higher probability of dropping products or destinations. Moreover, they attempt to offset, via higher prices, the negative impact on foreign revenues induced by the decreased physical quantity associated with financial constraints. -- Financial constraints ; margins of export ; export prices

     
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    hdl: 10419/89385
    Schriftenreihe: LEM working paper series ; 2011/24
    Umfang: Online-Ressource (PDF-Datei: 27 S., 346 KB), graph. Darst.
  6. Zipf law and the firm size distribution
    a critical discussion of popular estimators
    Autor*in: Bottazzi, Giulio; Pirino, Davide; Tamagni, Federico
    Erschienen: 2013
    Verlag:  Laboratory of Economics and Management, Sant'Anna School of Advanced Studies, Pisa

    The upper tail of the firm size distribution is often assumed to follows a Power Law behavior. Recently, using different estimators and on different data sets, several papers conclude that this distribution follows the Zipf Law, that is that the... mehr

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    The upper tail of the firm size distribution is often assumed to follows a Power Law behavior. Recently, using different estimators and on different data sets, several papers conclude that this distribution follows the Zipf Law, that is that the fraction of firms whose size is above a given value is inversely proportional to the value itself. We compare the different methods through which this conclusion has been reached. We find that the family of estimators most widely adopted, based on an OLS regression, is in fact unreliable and basically useless for appropriate inference. This finding rises some doubts about previously identified Zipf Laws. In general, when individual observations are available, we recommend the adoption of the Hill estimator over any other method.

     
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    hdl: 10419/89283
    Schriftenreihe: LEM working paper series ; 2013/17
    Umfang: Online-Ressource (22 S.), graph. Darst.
  7. What does (or does not) determine persistent corporate high-growth
    Autor*in: Bianchini, Stefano; Bottazzi, Giulio; Tamagni, Federico
    Erschienen: 2014
    Verlag:  Laboratory of Economics and Management, Sant'Anna School of Advanced Studies, Pisa

    Theoretical and empirical studies of industry dynamics have extensively focused on the process of growth. Theory predicts that production efficiency, profitability and financial status are central channels through which some firms can survive, grow... mehr

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    Theoretical and empirical studies of industry dynamics have extensively focused on the process of growth. Theory predicts that production efficiency, profitability and financial status are central channels through which some firms can survive, grow and eventually achieve outstanding growth performance. Is the same conceptual framework a convincing explanation to account for persistent corporate high growth? Exploiting panels of Italian, Spanish, and French firms we find no evidence that this is the case: companies experiencing persistent high growth are not more productive nor more profitable, and do not display peculiarly sounder financial conditions than firms that only exhibit high, but not persistent, growth performance. The finding is robust across countries, across sectors displaying different innov ation patterns, and also controlling for demographic characteristics such as age and size.

     
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    hdl: 10419/119827
    Schriftenreihe: LEM working paper series ; 2014/11
    Umfang: Online-Ressource (34 S.), graph. Darst.
  8. Financial constraints and firm exports
    accounting for heterogeneity, self-selection and endogeneity
    Autor*in: Secchi, Angelo; Tamagni, Federico; Tomasi, Chiara
    Erschienen: 2014
    Verlag:  Laboratory of Economics and Management, Sant'Anna School of Advanced Studies, Pisa

    The paper examines the causal effect of financial constraints on firm exports. We exploit a firm-level proxy of constraints based on credit ratings and available for a large panel of Italian exporting and non exporting firms. Our estimation strategy... mehr

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    The paper examines the causal effect of financial constraints on firm exports. We exploit a firm-level proxy of constraints based on credit ratings and available for a large panel of Italian exporting and non exporting firms. Our estimation strategy allows to cure for self-selection into exports and endogeneity of financial constraints. At the same time, we can control for unobserved firm fixed effects both in the selection and in the export equation, thus identifying the effect on exports of within firm changes in financial constraints status. We find that financial constraints produce a sizable reduction in the value of firm foreign sales.

     
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    hdl: 10419/119835
    Schriftenreihe: LEM working paper series ; 2014/16
    Umfang: Online-Ressource (22 S.), graph. Darst., Kt.
  9. The micro patterns of export diversification under financial constraints
    Autor*in: Secchi, Angelo; Tamagni, Federico; Tomasi, Chiara
    Erschienen: 2014
    Verlag:  Laboratory of Economics and Management, Sant'Anna School of Advanced Studies, Pisa

    Combining detailed data on export transactions and an informative firm level measure of financing constraints, this paper provides new evidence on the extent and dynamics of product and geographical diversification of constrained exporters. Financial... mehr

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    Combining detailed data on export transactions and an informative firm level measure of financing constraints, this paper provides new evidence on the extent and dynamics of product and geographical diversification of constrained exporters. Financial constraints associates with: (i) narrower product/destination margins; (ii) higher probability to drop products and destinations, (iii) higher loss of export value associated to dropping product or destination markets; (iv) higher probability to discard products with relatively high share in firm total export values, and (v) higher likelihood to drop country markets that are bigger, richer, geographically closer and with a relatively high share in total firm export value.

     
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    hdl: 10419/119834
    Schriftenreihe: LEM working paper series ; 2014/17
    Umfang: Online-Ressource (24, 7 S.), graph. Darst.
  10. Growth processes of Italian manufacturing firms
    Autor*in: Coad, Alexander; Rao, Rekha; Tamagni, Federico
    Erschienen: 2010
    Verlag:  Laboratory of Economics and Management, Sant'Anna School of Advanced Studies, Pisa

    This paper presents a multidimensional empirical analysis of firm growth. Exploiting census data on Italian manufacturing firms, 1989-1997, we estimate a reduced-form VAR to analyze the co-evolution of employment growth, sales growth, growth of... mehr

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    This paper presents a multidimensional empirical analysis of firm growth. Exploiting census data on Italian manufacturing firms, 1989-1997, we estimate a reduced-form VAR to analyze the co-evolution of employment growth, sales growth, growth of profits and labour productivity growth. Our main findings suggest that (i) employment growth precedes sales growth; (ii) productivity growth lacks any strong association with subsequent growth of the other indicators; (iii) profits growth represents the ‘absorbing dimension’ of the growth processes. This picture contrasts with ’accelerator models’, predicting sales are the driver of the growth process, and is also at odds with theories of firm-industry evolution assuming productivity or profits advantages to be the driver of strong market selection/reallocation mechanisms. Instead, the findings reveal the existence of (weak) Penrose and (strong) Kaldor-Verdoorn effects, and more generally convey the view that employment growth is the key driver of firm expansion, while profits, once made, are not reinvested. -- Firm Growth ; Panel VAR ; Employment Growth ; Industrial Dynamics ; Productivity Growth

     
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    hdl: 10419/89416
    Schriftenreihe: LEM working paper series ; 2008,20
    Schlagworte: Industrie; Unternehmenswachstum; Beschäftigungseffekt; Arbeitsproduktivität; VAR-Modell; Panel; Italien
    Umfang: Online-Ressource (PDF-Datei: 34 S., 533 KB), graph. Darst.
  11. Is bigger always better?
    the effect of size on defaults
    Autor*in: Bottazzi, Giulio; Tamagni, Federico
    Erschienen: 2010
    Verlag:  Laboratory of Economics and Management, Sant'Anna School of Advanced Studies, Pisa

    Analyzing a large sample of Italian firms we find that the probability of default increases with size. This contrasts with the common observation, based on measures of exit from business registry data, that firms' death rate is inversely related to... mehr

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    Analyzing a large sample of Italian firms we find that the probability of default increases with size. This contrasts with the common observation, based on measures of exit from business registry data, that firms' death rate is inversely related to the scale of their operation and suggests a rethinking of the economic role of larger companies.

     
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    hdl: 10419/89281
    Schriftenreihe: LEM working paper series ; 2010,07
    Umfang: Online-Ressource (PDF-Datei: 7 S., 138 KB), graph. Darst.
  12. The causal effect of including standards-related documentation into patent prior art
    evidence from a recent EPO policy change
    Autor*in: Bekkers, Rudi; Martinelli, Arianna; Tamagni, Federico
    Erschienen: March 2016
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    The aim of this paper is to investigate the causal effect of a recent attempt undertaken by the EPO to improve the quality of the patent granting process. To do so we examine a policy change that aimed at including the information revealed during the... mehr

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    The aim of this paper is to investigate the causal effect of a recent attempt undertaken by the EPO to improve the quality of the patent granting process. To do so we examine a policy change that aimed at including the information revealed during the standardisation-setting process into the official definition of prior art. All the empirical analysis consistently support that the policy was successful. Indeed, we find a negative and strongly significant reduction in the granting rate, suggesting that the process of patent granting has become more careful and selective after the policy implementation.

     
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    hdl: 10419/174520
    Schriftenreihe: LEM working paper series ; 2016/11
    Umfang: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  13. Innovation strategies and firm growth
    Autor*in: Bianchini, Stefano; Pellegrino, Gabriele; Tamagni, Federico
    Erschienen: February 2016
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    In this work, we explore the relations between sales growth and a set of innovation indicators that capture the different sources, modes and results of the innovative activity undertaken within firms. We exploit a rich panel on innovation activity of... mehr

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    In this work, we explore the relations between sales growth and a set of innovation indicators that capture the different sources, modes and results of the innovative activity undertaken within firms. We exploit a rich panel on innovation activity of Spanish manufacturing firms, reporting detailed CIS-type information continuously over the period 2004-2011. Standard GMM-panel estimates of the average effect of innovation activities reveal significant and positive effect for internal R&D, while no effect is found for external sourcing of knowledge (external R&D, acquisition of embodied and disembodied technologies) as well as for output of innovation (process and product innovation). However, fixed-effects quantile regressions reveal that innovation activities, apart from process innovation and disembodied technical change, display a positive effect on high-growth performance. Finally, we find evidence of super-modularity of the growth function, revealing complementarities of internal R&D with product innovation, and between product and process innovation.

     
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    hdl: 10419/174512
    Schriftenreihe: LEM working paper series ; 2016/03
    Umfang: 1 Online-Ressource (circa 36 Seiten), Illustrationen
  14. Innovation strategies and firm growth
    Autor*in: Bianchini, Stefano; Pellegrino, Gabriele; Tamagni, Federico
    Erschienen: [2016]
    Verlag:  Institut d’Economia de Barcelona, Barcelona

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    Schriftenreihe: Array ; 2016, 10
    Schlagworte: Innovationsmanagement; Unternehmenswachstum; Momentenmethode; Spanien
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  15. Persistent high-growth firms in China's manufacturing
    Autor*in: Moschella, Daniele; Tamagni, Federico; Yu, Xiaodan
    Erschienen: January 2017
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    This article investigates the characteristics of high-growth (HG) firms in Chinese manufacturing, and further explores the effects of firm characteristics on persistence of high-growth. We employ a multidimensional definition of HG firms that... mehr

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    This article investigates the characteristics of high-growth (HG) firms in Chinese manufacturing, and further explores the effects of firm characteristics on persistence of high-growth. We employ a multidimensional definition of HG firms that simultaneously accounts for growth of sales and employment. Exploiting a representative panel covering the period of the China's miracle, we find that HG firms outperform other firms, showing higher productivity, higher profitability, larger investment intensity, higher sales from product innovation, lower interest expenses and lower leverage. HG firms are also relatively young, larger in size, more often exporters and more concentrated in non-State-controlled companies. However, regression analysis suggests that none of the indicators of structural characteristics and performance considered above displays any statistical association with the ability to persistently replicate high-growth over time. The results speak against the long-run effectiveness of policies supporting the creation and backing of high-growth firms.

     
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    hdl: 10419/174553
    Schriftenreihe: LEM working paper series ; 2017, 03 (January 2017)
    Umfang: 1 Online-Ressource (circa 35 Seiten), Illustrationen
  16. Firm-level pay agreements and within-firm wage inequalities
    evidence across Europe
    Autor*in: Cirillo, Valeria; Sostero, Matteo; Tamagni, Federico
    Erschienen: [2019]
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    This article investigates the relation linking single-employer bargaining and within-firm wage dispersion - a significant driver of overall wage inequality. The study considers six European economies (Belgium, Spain, Germany, France, the Czech... mehr

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    This article investigates the relation linking single-employer bargaining and within-firm wage dispersion - a significant driver of overall wage inequality. The study considers six European economies (Belgium, Spain, Germany, France, the Czech Republic and the UK), featuring different collective bargaining institutions, in 2006 and 2010. We examine two different measures of within-firm inequality, allowing to capture how different groups of employees (top vs. bottom paid, and managers vs. low-layer employees) may differently benefit or lose from firm-level bargaining. Our findings show that firm-level bargaining has heterogeneous effects across countries, over time and by inequality measures. We interpret our evidence as supporting that country-specificities and the heterogeneous balance of power within organizations represent key elements to understand the role of the bargaining system in shaping inequalities.

     
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    hdl: 10419/203102
    Schriftenreihe: LEM working paper series ; 2019, 12 (May 2019)
    Umfang: 1 Online-Ressource (circa 36 Seiten)
  17. There are different shades of green
    heterogeneous environmental innovations and their effects on firm performance
    Autor*in: Biggi, Gianluca; Mina, Andrea; Tamagni, Federico
    Erschienen: [2023]
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    Using a firm-level dataset from the Spanish Technological Innovation Panel (2003-2016), this study explores the characteristics of environmentally innovative firms and quantifies the effects of pursuing different types of environmental innovation... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 203
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    Using a firm-level dataset from the Spanish Technological Innovation Panel (2003-2016), this study explores the characteristics of environmentally innovative firms and quantifies the effects of pursuing different types of environmental innovation strategies (resource-saving, pollution-reducing, and regulation-driven innovations) on sales, employment, and productivity dynamics. The results indicate, first, that environmental innovations tend to be highly correlated with firms' technological capabilities, although to varying degrees across types of environmental innovation, whereas structural characteristics are less significant. Second, we observe heterogeneous effects of different types of environmental innovation on performance outcomes. We find no evidence that any type of environmental innovation fosters sales growth while pollution-reducing and regulation-driven innovations boost employment growth. Moreover, both resource-saving and pollution-reducing innovations bring about productivity advantage.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: LEM working paper series ; 2023, 42 (November 2023)
    Schlagworte: Environmental Innovation; Green Investments; Resource-saving; Pollution-reduction; Environmental compliance; Firm performance
    Umfang: 1 Online-Ressource (circa 27 Seiten), Illustrationen
  18. Wage dispersion and technology
    a firm-level analysis on European data
    Autor*in: Cirillo, Valeria; Sostero, Matteo; Tamagni, Federico
    Erschienen: February 2016
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    Within-firm wage dispersion represents a relevant dimension of the overall wage inequality. A large stream of literature has analysed the wage-technology link without explicitly taking into account within-firm wage dispersion. In this work we aim to... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 203 (2016,5)
    Fernleihe:
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    Within-firm wage dispersion represents a relevant dimension of the overall wage inequality. A large stream of literature has analysed the wage-technology link without explicitly taking into account within-firm wage dispersion. In this work we aim to empirically investigate how technology affects within-firm wage dispersion and how it changes according to employer size. By exploiting employer-employee data from a survey of European firms (Eurostat's Structure of Earnings Survey - 2010) matched with information on sector innovation derived from the Community Innovation Survey, we look at the impact of innovation across small and medium-large firms, both on the average wages paid by firms and on the degree of within-firm wage inequality. Furthermore, we distinguish between high-paying and low-paying firms and more equal and unequal firms by means of a quantile regression approach.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/174514
    Schriftenreihe: LEM working paper series ; 2016/05
    Umfang: 1 Online-Ressource (circa 23 Seiten), Illustrationen
  19. Persistence of innovation and patterns of firm growth
    Autor*in: Guarascio, Dario; Tamagni, Federico
    Erschienen: September 2016
    Verlag:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    In this work we test if persistent innovators, defined according to different innovation activities (R&D, product and process innovation, patenting) grow more than other firms, and if innovation persistence can contribute to explain the so far little... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 203 (2016,31)
    Fernleihe:
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    In this work we test if persistent innovators, defined according to different innovation activities (R&D, product and process innovation, patenting) grow more than other firms, and if innovation persistence can contribute to explain the so far little evidence in favor of persistence in growth itself. We exploit a somewhat uniquely long-in-time dataset tracing a representative sample of Spanish manufacturing firms over the period 1990-2012. This allows to overcome the difficulties in the definition of persistent innovators traditionally based on innovation surveys. Our findings, against the expectations, support that persistent innovators do not generally outperform the other firms. First, they do not grow more, and actually we find that, despite some variation across innovation persistence indicators, they even grow less than other firms in the top-quantiles of the growth rates distribution, that is among high-growth firms. Further, persistent innovators do not show higher growth persistence than other firms, in none of the quantiles of the growth rates distribution, independently from the innovation persistence indicator considered.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/174540
    Schriftenreihe: LEM working paper series ; 2016/31
    Umfang: 1 Online-Ressource (circa 29 Seiten), Illustrationen