Innovation and firm growth in high-tech sectors: A quantile regression approach

被引：555

作者：

Coad, Alex ^{[1
,2
,3
,4
]}

Rao, Rekha ^{[4
]}

机构：

[1] Evolut Econ Grp, Max Planck Inst Econ, D-07745 Jena, Germany

[2] Univ Paris 01, F-75647 Paris, France

[3] CNRS, UMR 8174, CES Matisse, F-75647 Paris, France

[4] St Anna Sch Adv Studies, LEM, I-56127 Pisa, PI, Italy

来源：

RESEARCH POLICY | 2008年 / 37卷 / 04期

关键词：

innovation; firm growth; quantile regression; fast-growth firms; patents;

D O I：

10.1016/j.respol.2008.01.003

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

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. (C) 2007 Elsevier B.V. All rights reserved.

引用

页码：633 / 648

页数：16

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