investment and firm performance. We find that firm size and moderate competition is associated with higher intangible investment …, while firm age is associated with lower intangible investment. Examining firm performance, we find that higher investment is … not with higher productivity or profitability. The evidence suggests that intangible investment is associated with growth …

-relationships among firm characteristics, intangible investment and firm performance. We find that firm size is associated with higher … intangible investment, while firm age, very low competition (‘captive market') and very high competition (‘many competitors, none … dominant') are associated with lower intangible investment. Relating intangible investment to subsequent firm performance, we …

This chapter analyzes the effect of intangible investment on firm efficiency with an emphasis on its software component … differentials in their firm efficiency. The results show that the effect of software investment on firm efficiency is larger in high … technology firms, the effect of the software investment is smaller than the effect of research and development personnel …