Börje, Johansson; Hans, Lööf - Centre of Excellence for Science and Innovation … - 2010
There are systematic long-run differences in the performance of firms explained by the R&D-strategy that each firm … employs. Controlling for unobservable heterogeneity, past performance and other firm characteristics, this paper shows that … firms. The results are similar when firm performance is measured as total sales or exports per labor input. …