Unbundling technology adoption and tfp at the firm level: : Do intangibles matter?

• Autores: Michele Battisti, Filippo Belloc, Massimo Del Gatto
• Localización: Journal of Economics & Management Strategy, ISSN-e 1530-9134, Vol. 24, Nº. 2, 2015, págs. 390-414
• Idioma: inglés
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• Resumen

  • 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).