Quantifying heterogeneity in the relationship between R&D intensity and growth at innovative Japanese firms: A quantile regression approach

Q3 Economics, Econometrics and Finance

Applied Econometrics Pub Date : 2022-01-01 DOI:10.22394/1993-7601-2022-67-27-45

G. Besstremyannaya, Richard B. Dasher, S. Golovan

引用次数: 0

Abstract

This paper focuses on innovative manufacturing firms in Japan in 2009–2020 and evaluates differences in the relationship between R&D intensity and firm growth. We use a longitudinal version of the conditional quantile regression model to estimate the augmented Gibrat’s law equation for each of four innovative industries: chemicals and allied products; electronic and other electrical equipment; industrial and commercial machinery and computer equipment; and transportation equipment. The analysis reveals statistical differences in estimated coefficients for R&D intensity across low, median and high-growth firms within each industry and across pairs of industries. The results imply the presence of different patterns of R&D effectiveness which are discussed in the light of R&D management drawing on the experience of Sony and other fast-growing Japanese electronics firms. We also discover heterogeneity in the impact on growth of the age and size of firms.

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日本创新型企业研发强度与增长关系的异质性量化:分位数回归方法

本文以2009-2020年日本创新型制造企业为研究对象，考察了研发强度与企业成长关系的差异。我们使用纵向版本的条件分位回归模型来估计四个创新行业的增强型直布罗陀定律方程:化学品和相关产品;电子及其他电气设备;工商机械和计算机设备;以及运输设备。分析表明，在每个行业中，低成长性企业、中成长性企业和高成长性企业之间，以及行业对之间，研发强度估计系数存在统计学差异。研究结果表明，研发效率存在不同的模式，并借鉴索尼和其他快速增长的日本电子公司的经验，从研发管理的角度对其进行了讨论。我们还发现了企业年龄和规模对增长影响的异质性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Applied Econometrics Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)

CiteScore

0.70

自引率

0.00%

发文量

期刊介绍： The Journal of Applied Econometrics is an international journal published bi-monthly, plus 1 additional issue (total 7 issues). It aims to publish articles of high quality dealing with the application of existing as well as new econometric techniques to a wide variety of problems in economics and related subjects, covering topics in measurement, estimation, testing, forecasting, and policy analysis. The emphasis is on the careful and rigorous application of econometric techniques and the appropriate interpretation of the results. The economic content of the articles is stressed. A special feature of the Journal is its emphasis on the replicability of results by other researchers. To achieve this aim, authors are expected to make available a complete set of the data used as well as any specialised computer programs employed through a readily accessible medium, preferably in a machine-readable form. The use of microcomputers in applied research and transferability of data is emphasised. The Journal also features occasional sections of short papers re-evaluating previously published papers. The intention of the Journal of Applied Econometrics is to provide an outlet for innovative, quantitative research in economics which cuts across areas of specialisation, involves transferable techniques, and is easily replicable by other researchers. Contributions that introduce statistical methods that are applicable to a variety of economic problems are actively encouraged. The Journal also aims to publish review and survey articles that make recent developments in the field of theoretical and applied econometrics more readily accessible to applied economists in general.