Innovation and firm growth in high-tech sectors:a quantile regression approach
Coad, A. and Rao Nicholson, R., 2008. Innovation and firm growth in high-tech sectors:a quantile regression approach. Research Policy, 37 (4), pp. 633-648.
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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.
|Creators||Coad, A.and Rao Nicholson, R.|
|Departments||School of Management|
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