Intangible Investment and Firm Performance

Nathan Chappell () and Adam Jaffe
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Nathan Chappell: Motu Economic and Public Policy Research

Review of Industrial Organization, 2018, vol. 52, issue 4, No 2, 509-559

Abstract: Abstract We combine survey and administrative data for about 13,000 New Zealand firms from 2005 to 2013 to study intangible investment and firm performance. We find that firm size and moderate competition is associated with higher intangible investment, while firm age is associated with lower intangible investment. Examining firm performance, we find that higher investment is associated with higher labour and capital input, higher revenue, and higher firm-reported employee and customer satisfaction, but not with higher productivity or profitability. The evidence suggests that intangible investment is associated with growth and ‘soft’ performance objectives, but not with productivity or profitability.

Keywords: Firm performance; Industrial policy; Intangible investment; Productivity (search for similar items in EconPapers)
JEL-codes: D22 D24 L21 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (22)

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Working Paper: Intangible Investment and Firm Performance (2018)
Working Paper: Intangible Investment and Firm Performance (2016)
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DOI: 10.1007/s11151-018-9629-9

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