Is there a linear relationship between R&D intensity and growth? Empirical evidence of non-high-tech vs. high-tech SMEs

Research Policy

Volumn 41, Issue 1, 2012, Pages 36-53

  Nunes, Paulo Maãs ^a,b   Serrasqueiro, Zélia ^a,b   Leitão, João ^c  

^a UNIVERSITY OF BEIRA INTERIOR   (Portugal)

^b UNIVERSITY OF ÉVORA   (Portugal)

^c POLYTECHNIC INSTITUTE OF PORTALEGRE   (Portugal)

Author keywords

High tech SMEs; Non high tech SMEs; R D intensity; Two step estimation

Indexed keywords

EMPIRICAL EVIDENCE; ESTIMATION METHODS; HIGH-TECH SMES; LINEAR RELATIONSHIPS; MANUFACTURING INDUSTRIES; NON-HIGH-TECH SMES; SMALL AND MEDIUM-SIZED ENTERPRISE;

ENGINEERING; INNOVATION;

INDUSTRY;

EID: 81855199779     PISSN: 00487333     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.respol.2011.08.011     Document Type: Article

References (60)

1. J. Ang On the theory of finance for privately held firms The Journal of Small Business Finance 1 1992 185 203
2. M. Arellano, and S. Bond Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations Review of Economic Studies 58 1991 277 297
3. A. Arora, and A. Gambardella Complementary and external linkages: the strategies of the large firms in biotechnology Journal of Industrial Economics 38 1990 361 379
4. D. Audretsch, L. Klomp, E. Santarelli, and A. Thurik Gibrat's law: are the services different? Review of Industrial Organization 24 2004 301 324 (Pubitemid 39159916)
5. T. Baker, and R. Nelson Creating something from nothing: resource construction through entrepreneurial bricolage Administrative Science Quarterly 50 2005 329 366 (Pubitemid 43253520)
6. R. Baptista, and M. Karaöz Turbulence in growing and declining industries Small Business Economics 36 2011 249 270
7. R. Beise-Zee, and C. Rammer Local user-producer interaction in innovation and export performance of firms Small Business Economics 27 2006 207 222 (Pubitemid 44939937)
8. M. Blundell, and S. Bond Initial conditions and moment restrictions in dynamic panel data models Journal of Econometrics 87 1998 115 143 (Pubitemid 128415761)
9. G. Bruno Approximating the bias of LSDV estimator for dynamic unbalanced panel data models Economic Letters 87 2005 361 366 (Pubitemid 40669140)
10. C. Carpentier, I. Liotard, and V. Revest La Promotion des firms franaises de biotechnologie: le rôle de la propriét intellectuelle et de la finance Revue d'Economie Industrielle 120 2007 79 94
11. A. Coad, and R. Rao Innovation and firm growth in high-tech sectors: a quantile regression approach Research Policy 37 2008 633 648
12. W. Cohen, and D. Levinthal Innovation and learning: the two faces of R&D The Economic Journal 99 1989 569 596
13. W. Cohen, and D. Levinthal Absorptive capacity: a new perspective on learning and innovation Administrative Science Quarterly 35 1990 128 152
14. M. Colombo, and L. Grilli Funding gaps? Access to bank loans by high-tech start-ups Small Business Economics 29 2007 25 46
15. J. De Jong, and M. Freel Absorptive capacity and the reach of collaboration in high-technology small firms Research Policy 39 2010 47 54
16. A. Del Monte, and E. Papagni R&D and the growth of firms: an empirical analysis of a panel of Italian firms Research Policy 32 2003 1003 1014
17. M. Deloof Does working capital management affect profitability of Belgian firms Journal of Business Finance and Accounting 30 2003 573 588 (Pubitemid 36589976)
18. H. Droege, D. Hildebrand, and M. Forcada Innovation in services: present findings, and future pathways Journal of Service Management 20 2009 131 155
19. B. Edvardsson, A. Gustafsson, and I. Ross Service portraits in service research: a critical review International Journal of Service Industry Management 16 2005 107 121 (Pubitemid 40688848)
20. A. Eisingerich, G. Rubera, and M. Seifert Managing service innovation and interorganizational relationships for firm performance Journal of Service Research 11 2009 344 356
21. J. Elston, and D. Audretsch Financing the entrepreneurial decision: an empirical approach using experimental data on risk attitudes Small Business Economics 36 2011 209 222
22. European Commission, 2008. Analysis of the 2007 EU Industrial R&D Investment Scoreboard. Luxemburg.
23. G. Fagiolo, and A. Luzzi Do liquidity constrains matter in explaining firm size and growth? Some evidence from the Italian manufacturing industry Industrial and Corporate Change 15 2006 1 39
24. Falk, M.; 2010. Quantile estimates of the impact of R&D intensity on firm performance. Small Business Economics online first, 11 July 2010.
25. M. Fazzari, S. Hubbard, and B. Petersen Financing constraints and capital investment Brooking Papers of Economic Activity 1 1988 141 195
26. M. Freel Sectoral patterns of small firms innovations networking and proximity Research Policy 32 2003 751 770
27. M. Freel Are small innovators credit rationed? Small Business Economics 28 2007 23 35
28. C. Froehle, A. Roth, R. Chase, and C. Voss Antecedents of new service development effectiveness: an exploratory examination of strategic operations choices Journal of Service Research 3 2000 3 17
29. J. Gans, and S. Stern The product market and the market for "ideas": commercialization strategies for technology entrepreneurs Research Policy 32 2003 333 350
30. G. George Slack resources and the performance of privately held firms Academy of Management Journal 48 2005 661 676 (Pubitemid 41322615)
31. V. Gilsing, B. Nooteboom, W. Vanhaverbeke, G. Duysters, and A. Van Den Oord Network embeddedness and the exploration of novel technologies: technological distance, betweenness centrality and density Research Policy 37 2008 1717 1731
32. G. Giudici, and S. Paleari The provisions of finance to innovation: a survey conducted among Italian technology-based small firms Small Business Economics 14 2000 37 53
33. Hall, B.; Mairesse, J.; Mohnen, P.; 2009. Measuring the Returns to R&D. NBER Working Paper 15622. Cambridge, MA.
34. J. Heckman Sample selection bias as a specification error Econometrica 47 1979 153 161
35. M. Henrekson, and D. Johansson Gazelles as job creators - a survey and interpretation of the evidence Small Business Economics 35 2010 227 244
36. W. Hölzl Is the R&D behaviour of fast-growing SMEs different? Evidence from CIS III data for 16 countries Small Business Economics 33 2009 59 75
37. IAPMEI Sobre as PMEs em Portugal 2008 Instituto de Apoio Pequena e Média Empresa Lisboa
38. C-.Y. Lee Competition favors the prepared firm: firms R&D responses to competitive market pressure Research Policy 38 2009 861 870
39. C.-Y. Lee A theory of firm growth: learning capability knowledge threshold, and patterns of growth Research Policy 39 2010 278 289
40. F. Lotti, E. Santarelli, and M. Vivarelli Defending Gibat's law as a long - run regularity Small Business Economics 32 2009 31 44
41. D. Kindström, and C. Kowalkowski Development of industrial service offerings: a process framework Journal of Service Management 20 2009 156 172
42. Kuusisto, J.; 2008. R&D in Services-Review and Case Studies, Paper Submitted for the CREST. R&D in Services WorkingGroup, DG Research, European Commission.
43. Mairesse, J.; Hall, B.; 1996. Estimating the Productivity of Research and Development: An Explanation of GMM Methods Using Data on French & United States Manufacturing Firms. NBER Working Paper 5501, Cambridge, MA.
44. E. Müller, and V. Zimmermann The importance of equity finance for R&D activity Small Business Economics 33 2009 303 318
45. B. Noone, S. Kimes, A. Mattila, and J. Wirtz Perceived service encounter pace and customer satisfaction Journal of Service Management 20 2009 380 403
46. OECD Frascati Manual: Standard Method Proposed For Surveys of Experimental Research and Development 2002 OECD Paris
47. R. Ortega-Argilés, M. Piva, L. Potters, and M. Vivarelli Is corporate R&D investment in high-tech sectors more effective? Contemporary Economic Policy 28 2010 353 365
48. R. Pettit, and R. Singer Small business finance: a research agenda Financial Management 14 1985 47 60
49. C. Rammer, D. Czarnitzki, and A. Spielkamp Innovation success of non-R&D-performers: substituting technology by management in SMEs Small Business Economics 33 2009 35 58
50. G. Reid Trajectories of small business financial structure Small Business Economics 20 2003 273 285
51. A. Rickne Connectivity and performance of science - based firms Small Business Economics 26 2006 393 407 (Pubitemid 43814511)
52. M. Rogers Networks firm size and innovation Small Business Economics 22 2004 141 153
53. E. Santarelli, and A. Sterlacchini Innovation formal vs informal R&D, and firm size: some evidence from Italian manufacturing firms Small Business Economics 2 1990 223 228
54. G. Scellato, and E. Ughetto The Basel II reform and the provision of finance for R&D activities in SMEs: an analysis for a sample of Italian companies International Small Business Journal 28 2009 1 25
55. E. Stam, and K. Wennberg The roles of R&D in new firm growth Small Business Economics 33 2009 77 89
56. S. Tamura, J. Sheehan, C. Martinez, and S. Kergroach Promoting innovation in services Enhancing the Performance of the Service Sector 2005 OECD Publishing Paris Chapter 6
57. D. Teece Profiting from technological innovation: implications for integration, collaboration, licensing and public policy Research Policy 15 1986 285 305
58. T. Yasuda Firm growth, size, age and behavior in Japanese manufacturing Small Business Economics 24 2005 1 15 (Pubitemid 40405608)
59. J. Wiklund, H. Patzelt, and D. Shepherd Building and integrative model of small business growth Small Business Economics 32 2009 351 374
60. C. Winship, and R. Mare Models for sample selection bias Annual Review of Sociology 18 1992 327 350