We test the hypothesis that large firms devote a higher proportion of their research and development (R & D) expenditure on process innovation thansmaller firms. According to the estimates, process- and product R & D expenditure rise less than in proportion to size. The size effect is somewhat stronger for process R & D but the difference to product R & D is in no way dramatic. This difference with regard to size elasticity of process- and product R & D is somewhat more pronounced when accounting for possible interrelationships between expenditure on process- and product R & D but remains statistically non-significant.
Review of Industrial Organization – Springer Journals
Published: Oct 3, 2004
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