The evolving contribution of R&D, advertising and capital expenditures for US-listed firms’ growth in sales, 1979-2018. A quantile regression analysis

Joel Rabinovich ()
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Joel Rabinovich: City University London

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Abstract: This article presents new insights on the evolving contribution of different types of investments to the growth in sales of US nonfinancial listed firms during the 1979-2018 period. By means of quantile regressions it is observed an increasing contribution over time of intangible investment vis-à-vis a decline in capital expenditure both for high-growth and slow-growth firms. However, the impact of different types of intangible investment differs depending on the kind of firm. Whereas research and development (R&D) has a positive contribution for high-growth firms, only advertising has a positive effect for their slow-growth peers.

Keywords: Firm growth; Fast-growth firms; Quantile Regression; Intangibles (search for similar items in EconPapers)
Date: 2022-01-21
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-cse, nep-ent, nep-sbm and nep-tid
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