In this paper, it is argued that ICT investment is closely linked with complementary innovations and most productive in firms with innovative experience. In an analysis based on firm?level panel data covering the period 1994?99, system GMM estimates for an extended production function framework...

The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms. Among other variables, our panel of firm data includes data on venture capital funding and patent applications. With a statistical matching procedure we draw an adequate control...

The aim of this paper is to evaluate the role of FDI in technology transfer and innovativeness of the Baltic States economies. The latter factors have also become main prerequisites of the Baltic States entrance into the era of 'new economy'. The author exploited the data from various sources,...

What's left from the new economy? This book takes an unfashionable perspective and shows that despite all the mistaken ideas and exaggerations, the technological changes of the 1990s still have important effects today. Economic history shows that technological revolutions tend to generate deep...

We relate innovation to sales growth for incumbent firms in high-tech sectors. A firm, on average, experiences only modest growth and may grow for a number of reasons that may or may not be related to innovativeness. However, given that the returns to innovation are highly skewed and that growth...

This paper is an empirical test of the hypothesis that the appropriateness of different business strategies is conditional on the firm's distance to the industry frontier. We use data on four 2-digit high-tech manufacturing industries in the US over the period 1972-1999, and apply...

A puzzling evidence stemming from the applied research on growth and innovation is that successful innovations do not appear to have a significant effect on sales growth rates, at odds with the expectation that successful innovators will prosper at the expenses of their less able competitors....

This paper analyses the association between dynamic capabilities and new firm growth, controlling for measures of firm resources, characteristics of the entrepreneur, and aspects of the environment. The central research question is: How strong is the relationship between dynamic capabilities and...