Exports-R&D investment complementarity and economic performance of firms located in Portugal
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| Format: | Artículo científico |
| Language: | en |
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Universidad Nacional Autónoma de México
2016
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| _version_ | 1876467402227580928 |
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| author | Alexandre Neves |
| author_facet | Alexandre Neves |
| contents | Exports-R&D investment complementarity and economic performance of firms located in Portugal Alexandre Neves Aurora A. C. Teixeira Sandra T. Silva Economía y Finanzas R&D L25 O32 Exports innovation T here are a vast number of studies on the relationship between R&D and exports. However, the results are not always clear-cut. This study evaluates whether, in the case of a small, open and peripheral country in which exports are the engine of economic growth despite a noticeable laggardness in terms of R&D, the firms’ R&D impacts on and/or is influenced by their exports, as well as whether the interrelation between R&D and exports impacts on the performance of firms. Using an unique dataset comprising all (more than 340 thousands) non-financial companies based in Portugal, over the period 2006-2012, estimations based on bivariate probit models, which provide the simultaneous estimation of the two decisions (R&D and exports), taking into account the correlation between the estimation errors of the equations for R&D and exports, confirm there is complementarity between R&D and exports, which means that engaging in R&D activities will increase the firm’s probability of engaging in export activities. Additionally, engaging in export activities will also increase the probability of engaging in R&D. The results also provide support for the hypothesis that more productive firms self-select into exporting activities and also provide support for the learning-by-exporting hypothesis. Finally, based on a panel model we further found that R&D and exports have a positive effect on sales growth, which is enhanced when both activities occur simultaneously. 2016 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60144179004 https://www.redalyc.org/journal/601/60144179004/ https://www.redalyc.org/journal/601/60144179004/html/ https://www.redalyc.org/journal/601/60144179004/60144179004.epub https://www.redalyc.org/journal/601/60144179004/movil en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.295 Vol.LXXV |
| format | Artículo científico |
| id | redalyc_60144179004 |
| institution | Redalyc |
| language | en |
| publishDate | 2016 |
| publisher | Universidad Nacional Autónoma de México |
| spellingShingle | Exports-R&D investment complementarity and economic performance of firms located in Portugal Alexandre Neves Economía y Finanzas R&D L25 O32 Exports innovation Exports-R&D investment complementarity and economic performance of firms located in Portugal Alexandre Neves Aurora A. C. Teixeira Sandra T. Silva Economía y Finanzas R&D L25 O32 Exports innovation T here are a vast number of studies on the relationship between R&D and exports. However, the results are not always clear-cut. This study evaluates whether, in the case of a small, open and peripheral country in which exports are the engine of economic growth despite a noticeable laggardness in terms of R&D, the firms’ R&D impacts on and/or is influenced by their exports, as well as whether the interrelation between R&D and exports impacts on the performance of firms. Using an unique dataset comprising all (more than 340 thousands) non-financial companies based in Portugal, over the period 2006-2012, estimations based on bivariate probit models, which provide the simultaneous estimation of the two decisions (R&D and exports), taking into account the correlation between the estimation errors of the equations for R&D and exports, confirm there is complementarity between R&D and exports, which means that engaging in R&D activities will increase the firm’s probability of engaging in export activities. Additionally, engaging in export activities will also increase the probability of engaging in R&D. The results also provide support for the hypothesis that more productive firms self-select into exporting activities and also provide support for the learning-by-exporting hypothesis. Finally, based on a panel model we further found that R&D and exports have a positive effect on sales growth, which is enhanced when both activities occur simultaneously. 2016 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60144179004 https://www.redalyc.org/journal/601/60144179004/ https://www.redalyc.org/journal/601/60144179004/html/ https://www.redalyc.org/journal/601/60144179004/60144179004.epub https://www.redalyc.org/journal/601/60144179004/movil en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.295 Vol.LXXV |
| title | Exports-R&D investment complementarity and economic performance of firms located in Portugal |
| topic | Economía y Finanzas R&D L25 O32 Exports innovation |
| url | https://www.redalyc.org/articulo.oa?id=60144179004 https://www.redalyc.org/journal/601/60144179004/ https://www.redalyc.org/journal/601/60144179004/html/ https://www.redalyc.org/journal/601/60144179004/60144179004.epub https://www.redalyc.org/journal/601/60144179004/movil |