Sirvi Autor "Kaitira, Cedric" järgi

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Drivers of firm growth: an empirical study of product, process, and R&D innovation
(Tartu Ülikool, 2025) Kaitira, Cedric; Shemera, Caroline; Masso, Jaan, juhendaja; Tartu Ülikool. Majandusteaduskond; Tartu Ülikool. Sotsiaalteaduste valdkond
This study examines how product innovation, process innovation, and investing in R&D are related to firm growth using cross-sectional data from 7,319 firms across 14 European countries based on the World Bank Enterprise Survey. Employing Ordinary Least Squares, Instrumental Variable method, and quantile regression methods, the analysis accounts for potential endogeneity by using industry-level averages of innovation as instruments. The results show that product innovation is not consistently linked to higher growth and, under the IV approach, is associated with notably lower growth, suggesting that investment in new products may involve delays in realizing commercial outcomes. In contrast, process innovation shows a more stable and positive relationship with firm growth, particularly among firms in the upper part of the growth distribution. Investing in R&D, including its associated costs in the short term, does not show a clear pattern in relation to firm growth, with estimated differences close to zero in most cases. Firm characteristics such as age and size remain relevant: younger and medium-sized firms tend to grow more quickly than older or smaller ones. Overall, the study highlights the diverse ways through which product innovation, process innovation and investing in R&D are associated with firm growth, varying according to firm profile and national context.