search query: @indexterm BAYESIAN STATISTICS / total: 167
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| Author: | Cefis, E. Ciccarelli, M. |
| Title: | Profit differentials and innovation |
| Journal: | Economics of innovation and new technology
2005 : JAN-MAR, VOL. 14:1-2. p. 43-61 |
| Index terms: | Bayesian statistics Innovation Panel data Profit Profitability |
| Language: | eng |
| Abstract: | The aim of this article is investigating empirically the effects of innovative activities on corporate profitability by using a panel of 267 UK manufacturing companies between 1988 and 1992. The Bayesian approach is explicitly used to consider heterogeneity among companies and the authors find: 1) a positive and well-determined effect of innovation on profits that smoothly decreases as time passes by, 2) a difference in profitability between innovators and non-innovators, greater when the comparison is between persistent innovators and non-innovators and 3) a long-run persistence in profit differentials. |
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