{"title":"Quantifying heterogeneity in the relationship between R&D intensity and growth at innovative Japanese firms: A quantile regression approach","authors":"G. Besstremyannaya, Richard B. Dasher, S. Golovan","doi":"10.22394/1993-7601-2022-67-27-45","DOIUrl":null,"url":null,"abstract":"This paper focuses on innovative manufacturing firms in Japan in 2009–2020 and evaluates differences in the relationship between R&D intensity and firm growth. We use a longitudinal version of the conditional quantile regression model to estimate the augmented Gibrat’s law equation for each of four innovative industries: chemicals and allied products; electronic and other electrical equipment; industrial and commercial machinery and computer equipment; and transportation equipment. The analysis reveals statistical differences in estimated coefficients for R&D intensity across low, median and high-growth firms within each industry and across pairs of industries. The results imply the presence of different patterns of R&D effectiveness which are discussed in the light of R&D management drawing on the experience of Sony and other fast-growing Japanese electronics firms. We also discover heterogeneity in the impact on growth of the age and size of firms.","PeriodicalId":8045,"journal":{"name":"Applied Econometrics","volume":"34 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Applied Econometrics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22394/1993-7601-2022-67-27-45","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 0
Abstract
This paper focuses on innovative manufacturing firms in Japan in 2009–2020 and evaluates differences in the relationship between R&D intensity and firm growth. We use a longitudinal version of the conditional quantile regression model to estimate the augmented Gibrat’s law equation for each of four innovative industries: chemicals and allied products; electronic and other electrical equipment; industrial and commercial machinery and computer equipment; and transportation equipment. The analysis reveals statistical differences in estimated coefficients for R&D intensity across low, median and high-growth firms within each industry and across pairs of industries. The results imply the presence of different patterns of R&D effectiveness which are discussed in the light of R&D management drawing on the experience of Sony and other fast-growing Japanese electronics firms. We also discover heterogeneity in the impact on growth of the age and size of firms.
Applied EconometricsEconomics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)
CiteScore
0.70
自引率
0.00%
发文量
0
期刊介绍：
The Journal of Applied Econometrics is an international journal published bi-monthly, plus 1 additional issue (total 7 issues). It aims to publish articles of high quality dealing with the application of existing as well as new econometric techniques to a wide variety of problems in economics and related subjects, covering topics in measurement, estimation, testing, forecasting, and policy analysis. The emphasis is on the careful and rigorous application of econometric techniques and the appropriate interpretation of the results. The economic content of the articles is stressed. A special feature of the Journal is its emphasis on the replicability of results by other researchers. To achieve this aim, authors are expected to make available a complete set of the data used as well as any specialised computer programs employed through a readily accessible medium, preferably in a machine-readable form. The use of microcomputers in applied research and transferability of data is emphasised. The Journal also features occasional sections of short papers re-evaluating previously published papers. The intention of the Journal of Applied Econometrics is to provide an outlet for innovative, quantitative research in economics which cuts across areas of specialisation, involves transferable techniques, and is easily replicable by other researchers. Contributions that introduce statistical methods that are applicable to a variety of economic problems are actively encouraged. The Journal also aims to publish review and survey articles that make recent developments in the field of theoretical and applied econometrics more readily accessible to applied economists in general.
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