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Unbundling Technology Adoption and tfp at the Firm Level: Do Intangibles Matter?

  • Autori: Battisti, M.; Belloc, F.; Del Gatto, M.
  • Anno di pubblicazione: 2015
  • Tipologia: Articolo in rivista (Articolo in rivista)
  • Parole Chiave: Economics and Econometrics; Management of Technology and Innovation; Strategy and Management1409 Tourism, Leisure and Hospitality Management; Business, Management and Accounting (all)
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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).