Complementarities in innovation strategy: do intangibles play a role in enhancing firm performance?

Dolores Añón Higón, Jaime Gómez and Pilar Vargas

Industrial and Corporate Change, 2017, vol. 26, issue 5, 865-886

Abstract: This article assesses the role of investments in intangible capital and their potential complementarities as a way to improve firm productivity. We focus on the three intangible resources that, according to the literature, have the greatest strategic importance: research and development (R&D), advertising, and human capital. To test our hypotheses, we use a large sample of Spanish manufacturing firms and consider estimates of total factor productivity through a generalized method of moments approach. Our results show evidence of complementarities between R&D and advertising investments and between advertising and human capital. However, they are not conclusive in the case of R&D and human capital.

Keywords: O32; M21; D24 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (20)

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