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on Technology and Industrial Dynamics |
| By: | Roberto Alvarez; Andrés Zahler; Claudio Bravo-Ortega |
| Abstract: | This paper analyzes empirically the relationship between innovation and productivity in the Chilean services sector. Consistent with recent evidence on developed countries, we find that services firms are as innovative as firms in the manufacturing industry. In the basic model, we also find that both industries have similar determinants of the investment in innovation and the probability of introducing innovations (products or process), such as size and export status. In several extensions we find similar roles for technological and non-technological innovation in labor productivity and for determinants such as skill intensity and financial restrictions. In general, our evidence suggests that that innovation input and output is associated with improvements in productivity in both sectors. As extension of the work of Crespi and Zuñiga (2012) we test whether financial constraints are more relevant for either manufactures or services, finding that these seem to be active just for the services sector. We also test for the role of skills finding that they play a central role on the decision to spend in R&D and labor productivity. |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:udc:wpaper:wp384&r=tid |
| By: | Alessandra Colombelli (DIGEP, Politecnico di Torino; GREDEG-CNRS; BRICK, Collegio Carlo Alberto); Jackie Krafft (Université Nice Sophia Antipolis; GREDEG-CNRS); Francesco Quatraro (Université Nice Sophia Antipolis and GREDEG-CNRS; Collegio Carlo Alberto; Department of Economics and Statistics Cognetti de Martiis, University of Torino) |
| Abstract: | This paper investigates the impact of eco-innovation on firms' growth processes, with a special focus on gazelles, i.e. firms' showing higher growth rates than the average. In a context shaped by more and more stringent environmental regulatory frameworks, we posit that inducement mechanisms stimulate the adoption of green technologies, increasing the derived demand for technologies produced by upstream firms supplying eco-innovations. For these reason we expect the generation of green technologies to trigger sales growth. We use firm-level data drawn from the Bureau van Dijk Database, coupled with patent information obtained from the OECD Science and Technology Indicators. The results confirm that eco-innovations are likely to augment the effects of generic innovation on firms' growth, and this is particularly true for gazelles, which actually appear to run faster than the others. |
| Keywords: | Gazelles, Eco-Innovation, firms' growth, Inducement mechanisms, derived demand, WIPO Green Inventory |
| JEL: | L10 L20 O32 O33 Q53 Q55 |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2015-12&r=tid |
| By: | Filippo Belloc; Eleonora laurenza; Maria Alessandra Rossi |
| Abstract: | The paper explores the question whether the relationship between corporate governance dimensions and innovation at the firm level is affected by sectoral characteristics, by analyzing Italian manufacturing sectors. We estimate the impact of corporate governance features on patenting activity for two sub-groups of Italian firms, identified on the basis of the well-established distinction between Schumpeter Mark I (creative destruction) and Schumpeter Mark II (creative accumulation) sectors. We use a unique dataset on about 35.000 Italian manufacturing firms over the 2002-2007 period and employ a hurdle model for zero-inflated data in order to study simultaneously (i) the firm's ability to be innovative rather than non innovative and (ii) its ability to be relatively more innovative than the other innovative firms. We find that in Schumpeter Mark I sectors, a concentrated ownership structure has a positive effect on innovation, while the opposite is true for Schumpeter Mark II sectors. We interpret this result, arguing that, in more unstable markets, a concentrated ownership reduces agency costs to a larger extent than it exacerbates asymmetric bargaining problems. We find also that Schumpeter Mark I environments are associated to a negative effect of debt exposure, due to the higher uncertainty and agency costs. These findings are robust to a number of identification issues, including the possible endogeneity of corporate ownership structures. Our results may allow to make sense of the contradictory findings of the literature on corporate governance and innovation. |
| Keywords: | corporate governance, innovation, Italian manufacturing sectors, hurdle models. |
| JEL: | C30 G30 L60 O30 |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:usi:wpaper:706&r=tid |