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

Coad, Alex and Rao, Rekha (2008) Innovation and firm growth in high-tech sectors: A quantile regression approach. Research Policy, 37 (4). pp. 663-648. ISSN 0048-7333

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Abstract

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.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > SPRU - Science Policy Research Unit
Depositing User: Alex Coad
Date Deposited: 06 Feb 2012 19:25
Last Modified: 27 Jun 2013 08:45
URI: http://sro.sussex.ac.uk/id/eprint/20539
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