Coad, Alex; Rao, Rekha - In: Economics of Innovation and New Technology 19 (2010) 2, pp. 127-145
We apply a panel vector autoregression model to a firm-level longitudinal database to observe the co-evolution of sales growth, employment growth, profits growth and the growth of research and development (R&D) expenditure. Contrary to expectations, profit growth seems to have little detectable...