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Innovation and corporate performance in the Spanish regions

Marcos González-Fernández and Carmen González-Velasco

Journal of Policy Modeling, 2018, vol. 40, issue 5, 998-1021

Abstract: This paper analyzes the relationship between corporate performance and innovative effort for a set of Spanish companies during the 2007–2013 period. For this purpose, we use a panel data model. We find evidence that the return on equity (ROE) and, in particular, sales revenues are positively influenced by corporate innovation. Moreover, we also find evidence that this positive relationship is stronger in large companies. The analysis regarding the age of the company indicates that, in start-ups or younger companies, innovation effort has a greater effect on corporate performance than in older companies.

Keywords: Innovation; Corporate performance; SME; ROE; Sales revenues (search for similar items in EconPapers)
JEL-codes: G30 L25 M13 O32 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1016/j.jpolmod.2018.05.005

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