Innovation, profitability and growth in medium and high-tech manufacturing industries: evidence from Italy

Claudio Cozza, Franco Malerba, Maria Mancusi, Giulio Perani and Andrea Vezzulli ()

Applied Economics, 2012, vol. 44, issue 15, 1963-1976

Abstract: The main goal of this article is to assess the impact of product innovation on the economic performance of firms operating in Medium and High-Tech (M&HT) industries. Using information from a large and unique dataset on Italian firms we estimate, by means of Propensity Score (PS) matching methods, a positive and significant ‘innovation premium’ both in terms of profitability and growth (in the short-run) for those firms who introduced new innovative products. We also find that this innovation premium is particularly large for small firms and even more so when considering new established firms.

Date: 2012
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Related works:
Working Paper: Innovation, profitability and growth in medium and high-tech manufacturing industries: Evidence from Italy (2011)
Working Paper: Innovation, profitability and growth in medium and high-tech manufacturing industries: Evidence from Italy (2009)
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DOI: 10.1080/00036846.2011.556594

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