TY  - SER
AU  - Deschryvere, Matthias
TI  - R&D, firm growth and the role of innovation persistence
PY  - 0000///
KW  - Finland
KW  - Panel Var
KW  - Smes
KW  - Innovation
KW  - R&D
KW  - Research & Development
KW  - Firm Growth
N2  - R&D investment and growth in SMEs and large firms relate in a complex way. This paper analyses what role persistence of innovation output plays in shaping that relationship. We apply a vector auto-regression model to Finnish firm-level data and summarize the lead-lag relationship and complex co-movements of R&D growth and firm growth series. We found only continuous product and process innovators to have positive associations between R&D growth  and sales growth. Also the associations between sales growth and subsequent R&D growth were stronger for continuous innovators than for occasional innovators, but only for product innovators. In the case of process innovators it is the occasional innovators that exhibit a stronger association between sales growth and subsequent R&D growth. In addition, our results vary between large and small firms. We express the need for further research on innovation dynamics and growth of SMEs analysing the interactions between different innovation activities
ER  -