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

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...

Full description

Saved in:
Bibliographic Details
Published in:Journal of economics & management strategy 2015-06, Vol.24 (2), p.390-414
Main Authors: Battisti, Michele, Belloc, Filippo, Del Gatto, Massimo
Format: Article
Language:English
Subjects:
Adaptation to change
Assets
Correlation analysis
Estimation
Europe
Firm value
Intangible assets
Productivity
Studies
Technology
Technology adoption
Total factor productivity
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary: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).
ISSN:1058-6407
1530-9134
DOI:10.1111/jems.12094