(Monday, 16th May 2016)
Title : Methods in Applied Innovation Economics: Measuring Firm-level Performance
Download the presentation - 10.61 MB
How can we measure firm innovation outcomes? How do we assess the innovation performance of a firm? What approaches can we adopt to relate firm innovation and financial performance? This workshop will review several standard methodological approaches to measuring innovation at the level of the firm. We will start with a review of the innovation production function that transforms innovation inputs (e.g. R&D effort) into outputs (e.g. new ideas, products, and processes). We will then review various approaches to measuring outputs (e.g. using intellectual property data) and inputs (e.g. using R&D investment flows). Finally, we will discuss several frequently-used econometric methods for assessing firm innovation performance, including the patent production function and Tobin's Q.
Bibliographical references :
Must read reference : Branstetter, L.G., M. Drev, and N. Kwon. 2015. "Get with the Program: Software-Driven Innovation in Traditional Manufacturing," NBER Working Paper #21752.
Griliches, Z. 1990. "Patent Statistics as Economic Indicators: A Survey," Journal of Economic Literature, 28(4), 1,661-1,707.
C. Greenhalgh and M. Rogers, Innovation, Intellectual Property, and Economic Growth (Princeton, NJ: Princeton University Press, 2010), Chapter 3.
Hall, Brownyn. (2011). Innovation and Productivity, NBER Working Paper No. 17178.