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

Claudio Cozza, Franco Malerba (franco.malerba@unibocconi.it), Maria Mancusi, Giulio Perani and Andrea Vezzulli (andrea.vezzulli@gmail.com)
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Franco Malerba: Department of Economics, Bocconi University, Milan, Italy and KiTES Bocconi University, Milan, Italy
Giulio Perani: ISTAT - SSI/D (Italian National Institute of Statistics), Rome, Italy

No 28, KITeS Working Papers from KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy

Abstract: The main goal of this paper is to assess the impact of product innovation on the economic performance of firms operating in medium and high-tech industries in general and of SMEs in particular. Using information from a large and unique dataset on Italian firms we estimate, by means of propensity scores 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.

Keywords: innovation; profitability; growth; propensity score estimation (search for similar items in EconPapers)
JEL-codes: L11 L25 O30 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2009, Revised 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Innovation, profitability and growth in medium and high-tech manufacturing industries: evidence from Italy (2012)
Working Paper: Innovation, profitability and growth in medium and high-tech manufacturing industries: Evidence from Italy (2011)
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