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Descripción
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| The aim of this work is to provide empirical knowledge on the factors associated to firm performance, with special emphasis to research, development and investment activities. Profitability allows to remunerate productive factors and owners¿ capital, but perhaps more important is its contribution to ensure viability of businesses on the long term. The database used is the Survey on Business Strategies (ESEE, Encuesta sobre Estrategias Empresariales, Ministry of Science and Technology and SEPI Foundation) that supplies, yearly since 1990, in depth information on a panel of representative manufacturing firms. ESEE is suitable to contrast microeconometric hypotheses. The initial sample taken consists on 1367 observations that constitute a incomplete panel of 279 firms with data on at least one year from 2001 to 2006. The regression model includes6 (1) (dependent variable) the ratio ROA as an expression of how profitable is a firm before leverage and (2) (regressors) lagged variables of both external and internal R&D expenses, as well as investments in equipments. The purpose of this specification is to capture the fact that these variables would probably have a period of delay to cause positive effects on performance. The results present statistical evidence of the aforementioned insights: R&D expenses and equipment investments do not affect profitability at the current moment neither do the following year; but in a period of two year positive significance is found. These conclusions reinforce the role of R&D expenses and equipment investments in the Spanish agro-food system as suppliers of medium and long term business sustainability. | |
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Internacional
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Si |
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Nombre congreso
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International Conference on Food Innovation, foodInnova 2010 |
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Tipo de participación
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960 |
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Lugar del congreso
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Valencia |
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Revisores
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Si |
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ISBN o ISSN
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DOI
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Fecha inicio congreso
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25/10/2010 |
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Fecha fin congreso
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29/10/2010 |
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Desde la página
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256 |
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Hasta la página
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280 |
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Título de las actas
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Food Innova 2010 |