|
|||||
|
|
Innovation and firm growth in high-tech sectors: A quantile regression approach |
|
| Authors: | Alex Coad Rekha Rao |
| Institution: | a Max Planck Institute of Economics, Evolutionary Economics Group, Kahlaische Strasse 10, Jena D-07745, Germany b CES-Matisse, UMR 8174 CNRS et Univ. Paris 1, Maison des Sciences Economiques, 106-112 Bd. de l’Hôpital, 75647 Paris, France c LEM, Sant’Anna School of Advanced Studies, P.zza Martiri della Libertà 33, 56127 Pisa (PI), Italy |
| Abstract: | We relate innovation to sales growth for incumbent firms in high-tech sectors. A firm, on average, experiences only modest growth and may grow for a number of reasons that may or may not be related to innovative activity. However, given that the returns to innovation are highly skewed and that growth rates distributions are heavy-tailed, it may be misleading to use regression techniques that focus on the ‘average effect for the average firm’. Using a quantile regression approach, we observe that innovation is of crucial importance for a handful of ‘superstar’ fast-growth firms. |
| Keywords: | O31 L25 |
| 本文献已被 ScienceDirect 等数据库收录！ | |