INNOVATION AND PRODUCTIVITY IN FAMILY FIRMS: EVIDENCE FROM A SAMPLE OF EUROPEAN FIRMS

Francesco Aiello (), Lidia Mannarino () and Valeria Pupo ()

No 201706, Working Papers from Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF

Abstract: This paper estimates the impact of R&D investments on the productivity of European family firms. For the period 2007-2009, we consider a Cobb-Douglas production function augmented by R&D intensity. Specifically, we address the questions of whether the R&D returns of family firms differ from that of non-family firms. Final outcomes suggest that, on average, non-family firms conducting R&D record a productivity gain of about 5-8 % compared to non-innovative firms. Additionally, the innovative family firms are about 6% lower compared to innovative non-family firms. Finally, the rate of return to R&D of family firms is lower than non-family firms.

Keywords: Productivity; R&D returns; Family firms (search for similar items in EconPapers)
JEL-codes: G34 L60 O30 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2017-11
New Economics Papers: this item is included in nep-cfn, nep-cse, nep-eff, nep-eur, nep-ino and nep-sbm
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http://www.ecostat.unical.it/RePEc/WorkingPapers/WP06_2017.pdf First version, 2017-11 (application/pdf)

Related works:
Journal Article: Innovation and productivity in family firms: evidence from a sample of European firms (2020)
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