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Intangible investments and productivity performance

Author

Listed:
  • Michele Cincera
  • Julie Delanote
  • Pierre Mohnen
  • Anabela Santos
  • Christoph Weiss
Abstract
Companies in advanced economies are facing new challenges. Investment in intangible assets – such as R&D expenditures, ICT activities, the cost of training employees and spending on improving the organizational process – has gained relevance to overcome market pressure. In the last decade, many studies discussed the impact of intangible investment on firms’ performance. However, comparison of the effect of different types of intangible investments is less well explored. The paper aims to fill this gap by assessing the impact of several intangible investments on productivity using for the first-time data from the EIB Survey on Investment (EIBIS) covering all 28 EU members, in the period 2015-2017. We allow intangible investments to affect productivity through innovation, using an augmented version of the Crépon-Duguet-Mairesse (1998) model. Our results show that all types of intangible investments positively impact labour productivity. However, ICT and acquisition of new skills are more important for explaining productivity gains than R&D investment and organizational improvements. Furthermore, R&D and ICT investments also affect productivity indirectly through their effects on innovation, which itself increases productivity.

Suggested Citation

  • Michele Cincera & Julie Delanote & Pierre Mohnen & Anabela Santos & Christoph Weiss, 2020. "Intangible investments and productivity performance," GEE Papers 0145, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Mar 2020.
    • Handle: RePEc:mde:wpaper:0145
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    Download full text from publisher

    File URL: https://www.gee.gov.pt//RePEc/WorkingPapers/GEE_PAPERS_145.pdf
    File Function: First version, 2020
    Download Restriction: no
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    Citations

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    Cited by:

    1. Carlo Altomonte & Peter Bauer & Alberto Maria Gilardi & Chiara Soriolo, 2022. "Intangible Assets, Industry Performance and Finance During Crises," BAFFI CAREFIN Working Papers 22173, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    2. Santos, Anabela Marques & Barbero, Javier & Salotti, Simone & Conte, Andrea, 2023. "Job creation and destruction in the digital age: Assessing heterogeneous effects across European Union countries," Economic Modelling, Elsevier, vol. 126(C).

    More about this item

    Keywords

    R&D; ICT; Intangible investments; Innovation; Productivity;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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