Quantile estimates of the impact of R&D intensity on firm performance

Quantile estimates of the impact of R&D intensity on firm performance This paper investigates the relationship between initial research and development (R&D) intensity and firm growth using a unique data set for firms with R&D activities in Austria during the period 1995–2006. Results based on the least absolute deviation (LAD) estimator show that initial R&D intensity has a positive and significant impact on both employment and sales growth in the subsequent 2 years. Quantile regressions for each cross-section reveal that the impact of R&D intensity is significant from 0.3 to the highest quantile of the conditional distribution of employment growth. Furthermore, the elasticity of employment growth with respect to R&D intensity is highest for firms at or slightly below the median of the distribution of firm growth. Finally, we find that the impact of R&D decreases significantly over time. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

Quantile estimates of the impact of R&D intensity on firm performance

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Springer US
Copyright © 2010 by Springer Science+Business Media, LLC.
Business and Management; Management; Microeconomics; Entrepreneurship; Industrial Organization
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