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

journal contribution
posted on 2023-06-07, 22:52 authored by Alex Coad, Rekha Rao
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.

History

Publication status

  • Published

Journal

Research Policy

ISSN

0048-7333

Publisher

Elsevier

Issue

4

Volume

37

Page range

663-648

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-02-06

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