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Innovation and job creation: a sustainable relation?

Daria Ciriaci (), Pietro Moncada-Paternò-Castello () and Peter Voigt
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Peter Voigt: European Commission, Directorate-General for Economic and Financial Affairs

Eurasian Business Review, 2016, vol. 6, issue 2, 189-213

Abstract: Abstract This study compared the employment growth patterns of innovative and non-innovative firms, focusing on whether or not there are systematic differences between these two categories in the persistence of the jobs they create. To this end, a unique longitudinal dataset of 3304 Spanish firms over the period 2002–2009 and a semi-parametric quantile regression approach was used. The empirical results indicate that, ceteris paribus, innovative, smaller and younger firms are more likely to experience high employment growth episodes than non-innovative firms. More interestingly, among those firms that contribute more to yearly job creation (e.g. high-growth firms), only innovative companies are able to sustain high growth over time (in contrast to non-innovative firms). In addition, among declining firms, non-innovators tend to deteriorate faster in terms of economic performance than innovators.

Keywords: Serial correlation, Quantile regression, Firm size, Firm’s age, Job creation; ‘young innovative companies’ (YICs) (search for similar items in EconPapers)
JEL-codes: L11 L25 (search for similar items in EconPapers)
Date: 2016
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