Alex Coad
Innovation and firm growth in high-tech sectors: A quantile regression approach
Coad, Alex; Rao, Rekha
Authors
Rekha Rao
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. © 2007 Elsevier B.V. All rights reserved.
Citation
Coad, A., & Rao, R. (2008). Innovation and firm growth in high-tech sectors: A quantile regression approach. Research Policy, 37(4), 633-648. https://doi.org/10.1016/j.respol.2008.01.003
Journal Article Type | Article |
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Publication Date | May 1, 2008 |
Journal | Research Policy |
Print ISSN | 0048-7333 |
Publisher | Elsevier |
Peer Reviewed | Peer Reviewed |
Volume | 37 |
Issue | 4 |
Pages | 633-648 |
DOI | https://doi.org/10.1016/j.respol.2008.01.003 |
Keywords | innovation, firm growth, quantile regression, fast-growth firms, patents |
Public URL | https://uwe-repository.worktribe.com/output/1012760 |
Publisher URL | http://dx.doi.org/10.1016/j.respol.2008.01.003 |