Young firms and innovation: a microeconometric analysis

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Abstract

This paper discusses the sources of product innovation in young innovative companies (YICs), here defined as firms engaged in product innovation and with less than 8 years of activity. In particular, we look at in-house and external R&D and at the acquisition of external technology in its embodied and disembodied components. These input–output relationships are tested on a sample of 2713 innovative Italian firms. A sample-selection approach is applied to study both the determinants of product innovation and the factors affecting the intensity of innovation. Results show that in-house R&D is linked to the propensity to introduce product innovation both in mature firms and YICs; however, innovation intensity in the YICs is mainly dependent on embodied technical change from external sources, while in-house R&D does not play a significant role.
Original languageEnglish
Pages (from-to)329-340
Number of pages12
JournalStructural Change and Economic Dynamics
Publication statusPublished - 2012

Keywords

  • Embodied technological change
  • New firms
  • Product innovation
  • R&D
  • Sample selection

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