Innovation Strategies and Firm Growth

At 2.00 pm.

Venue

Room 10, Department of Sociology and Social Research - via Verdi 26, Trento.

Speaker

• prof. Federico Tamagni - Institute of Economics, Scuola Superiore Sant'Anna, Pisa.

Abstract

In this work, we explore the relationship 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 all innovation activities, apart from process innovation and disembodied technical change, display a positive effect on high-growth performance. Also, 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.