Intangible investments and innovation propensity. Evidence from the Innobarometer 2013

Sandro Montresor () and Antonio Vezzani

No 2014-03, JRC Working Papers on Corporate R&D and Innovation from Joint Research Centre

Abstract: This paper investigates the innovation impact of intangibles by considering the decision of firms to invest in a comprehensive set of them. By using a new survey on a large sample of firms in 28 EU (plus 8 non-EU) countries, we first identify the principal components of the resources firms invest in six kinds of intangibles. Their contribution to the firms propensity to introduce new products and/or processes is then estimated with a two-step model, which addresses the endogeneity of the focal regressors through theoretically consistent instruments. A firms innovativeness depends on its choice of using internal vs. external resources for its intangible investments more than on their actual amount, and on the kind of assets these investments are directed to. Intangibles need to be managed strategically in order to have an innovation impact and the policy support of this type of investment must take this strategic use into account.

Keywords: Innovation; Intangibles; R&D (search for similar items in EconPapers)
JEL-codes: O30 O32 O33 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2014
New Economics Papers: this item is included in nep-ino, nep-sbm and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Journal Article: Intangible investments and innovation propensity: Evidence from the Innobarometer 2013 (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:ipt:wpaper:201403

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