TY - JOUR
T1 - Unbundling Technology Adoption and tfp at the Firm Level: Do Intangibles Matter?
AU - Battisti, Michele
AU - Belloc, Filippo
AU - Del Gatto, Massimo
PY - 2015
Y1 - 2015
N2 - We use a panel of European firms to investigate the relationship between intangible assets and productivity. We distinguish between total factor productivity (tfp) and technology adoption, whereas standard estimations consider only a notion of productivity that conflates the two effects. Although we are unable to address simultaneity, we allow for the existence of multiple technologies within sectors through a mixture model approach. We find that intangible assets have nonnegligible effects that both push firms toward better technologies (technology adoption effects) and allow for more efficient exploitation of a given technology (tfp effects).
AB - We use a panel of European firms to investigate the relationship between intangible assets and productivity. We distinguish between total factor productivity (tfp) and technology adoption, whereas standard estimations consider only a notion of productivity that conflates the two effects. Although we are unable to address simultaneity, we allow for the existence of multiple technologies within sectors through a mixture model approach. We find that intangible assets have nonnegligible effects that both push firms toward better technologies (technology adoption effects) and allow for more efficient exploitation of a given technology (tfp effects).
KW - Economics and Econometrics; Management of Technology and Innovation; Strategy and Management1409 Tourism
KW - Leisure and Hospitality Management; Business
KW - Management and Accounting (all)
KW - Economics and Econometrics; Management of Technology and Innovation; Strategy and Management1409 Tourism
KW - Leisure and Hospitality Management; Business
KW - Management and Accounting (all)
UR - http://hdl.handle.net/10447/146072
M3 - Article
VL - 24
SP - 390
EP - 414
JO - JOURNAL OF ECONOMICS & MANAGEMENT STRATEGY
JF - JOURNAL OF ECONOMICS & MANAGEMENT STRATEGY
SN - 1058-6407
ER -