Non-linearities in the R&D-firm growth relationship: Evidence from a semiparametric location-scale regression approach

Drini Morina (), Henning Lucas () and Stefanie Heiden ()
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Drini Morina: Gottfried Wilhelm Leibniz University Hannover
Henning Lucas: Gottfried Wilhelm Leibniz University Hannover
Stefanie Heiden: Gottfried Wilhelm Leibniz University Hannover

Economics Bulletin, 2023, vol. 43, issue 2, 1155 - 1161

Abstract: Based on a generalized additive model for location and scale, this paper shows that there is no positive association between R&D and average firm growth rates in the short run, unless R&D efforts are extremely high. The growth rate variance, however, increases with smaller values of R&D intensity and the magnitude is more extreme.

Keywords: R&D; firm growth; generalized additive location-scale model; GAM (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
Date: 2023-06-30
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