Corporate skills as an incentive to R&D investment

Mariacristina Piva and Marco Vivarelli ()

No dises0853, DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali from Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE)

Abstract: This paper investigates the determinants of R&D investment at the firm-level. A balanced panel of 215 Italian manufacturing firms over the 1995-2000 period has been used to test the technologypush, the demand-pull and the endogenous skill-bias hypotheses. Econometrically, the GMM-SYS estimator and the Least Squares Dummy Variable Corrected (LSDVC) estimator, a recentlyproposed panel data technique particularly suitable for small samples, have been used. Results support the well-established technology-push and demand-pull hypotheses and, furthermore, supply evidence for the role of skill endowment in increasing a firm’s R&D investments.

Keywords: Skills and innovation; Endogenous skill-bias; Demand-pull; Technology-push; GMM estimator; LSDVC estimato (search for similar items in EconPapers)
JEL-codes: O31 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2008-07
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Published in International Journal of Manpower, vol. 30 (2009), pages 835-852

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