High-growth firms and innovation in European countries

Agustí Segarra Blasco, Mercedes Teruel Carrizosa () and Elisenda Jové Llopis
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Agustí Segarra Blasco: Universitat Rovira i Virgili
Elisenda Jové Llopis: Universitat Rovira i Virgili

EKONOMIAZ. Revista vasca de Economía, 2016, vol. 90, issue 02, 194-221

Abstract: This paper analyses the effect of innovation on a high-growth firm (HGF). The micro-data belongs to the Community Innovation Survey 2008 provided by Eurostat covering the period 2006-2008 for 15 European countries. We classify the EU countries in two groups according to the share of business R&D on GDP: leader countries (Germany, Slovenia, Czech Republic, Norway, Portugal, Spain and Italy) and laggard countries (Estonia, Hungary, Slovakia, Lithuania, Romania, Bulgaria, Latvia and Cyprus). Firms in leader countries are more prone to invest in R&D but the presence of HGFs is more moderated than firms in laggard countries. Our main results show that the drivers to innovate and become a HGF differ across European countries. In leader countries, the HGF firms presence is related to R+D inversions and innovation, whereas in laggard countries depend directly on the size of the firm, as well as the turbulence rate in the economy as a whole. All in all, our results show light on the different entrepreneurial ecosystems of the European Union member countries.

Keywords: Empresas de rápido crecimiento; High-growth firms; actividad innovadora; crecimiento empresarial; firm growth; innovation activity (search for similar items in EconPapers)
JEL-codes: L11 L25 O30 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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