Max Nathan () and
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Anna Rosso: University of Milan
No 429, Development Working Papers from Centro Studi Luca d'Agliano, University of Milano
Policymakers need to understand innovation in high-profile sectors like technology. This can be surprisingly hard to observe. We combine UK administrative microdata, media and website content to develop experimental measures of firm innovation â€“ new product/service launches â€“ that complement existing metrics. We then explore the innovative performance of technology sector SMEs â€“ firms also of great policy interest â€“ using panel fixed effects settings, comparing conventional and machine-learning-based definitions of industry space. For companies with event coverage, tech SMEs are substantially more launch-active than non-tech firms, with suggestive evidence of firm-city interactions. We use instruments and reweighting to handle underlying event exposure probabilities.
Keywords: innovation; ICT; data science (search for similar items in EconPapers)
JEL-codes: C55 L86 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-big, nep-cse, nep-ent, nep-ino, nep-sbm and nep-tid
Date: 2017-10-09, Revised 2017-10-09
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Persistent link: https://EconPapers.repec.org/RePEc:csl:devewp:429
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