Using panel data of 17 European Union countries, we find robust empirical support for a positive impact of venture capital on innovation. After controlling for the potential endogenous relationship between venture capital and innovation, the results indicate that venture capital fosters innovation but mainly on a later stage.
This paper investigates the underlying factors that might shape the firm’s choices with respect to degrees of innovation novelty.Using a sample of 2983 firms observed under the Portuguese Community Innovation Survey, we assess the relative relevance of a set of firm- and industry-specific factors in explaining firms’ choices about incremental or radical innovation. The results indicate that both the firm’s idio...
NIPE WP 12/2013 ; This paper investigates the geographical distribution and concentration of firms’ innovation persistence and innovation type - product and process - based upon three waves of the Community Innovation Survey data covering the period 1998-2006. The main findings are: (i) both innovation persistence and innovation type are asymmetrically distributed across Portuguese regions; (ii) the degree of ...
This paper investigates the role of the national institutional setting of EU member states in explaining Single Market non-compliance regarding non-tariff barriers in intra-EU trade. This study uses data on infringements to Single Market law on the free movement of goods. After controlling for country and industry-specific factors, we show that domestic institutional characteristics are relevant to explain non-...
This paper analyses high-growth firms in Portugal and aims at assessing the impact of region-specific characteristics on the probability of the firm being high-growth. Using a sample of active firms registered in the database Quadros de Pessoal between 2002 and 2006, the result suggest that high-growth firms is not a random phenomenon and that the region-specific characteristics determine significantly the prob...
By changing the level of competition and/or affecting the allocation of resources, institutions can play a very important role on innovation activity. In this paper we investigate the relative importance of institutional variation across European countries in explaining differences in their innovation intensity at the industry level. We employ a novel indicator of innovation therefore circumventing the limitati...
The paper focuses on the theoretical and empirical formulation of an entry model that integrates strategic considerations and firms' heterogeneity. Entry decisions are derived from a profit function, and, subsequently, the number of entrants is defined as the sum of firms that have effectively decided to enter a given industry. As the aggregation of individual entry decisions yields a discrete outcome, th...
The paper investigates whether multinational corporations (MNCs) operating in Portugal and Greece perform differently than domestic firms using two samples. The first contains 2651 and the second 523 firms operating in Greece in 1997 and Portugal in 1992 respectively. Departures from normality of firms' profitability motivated the adoption of the robust technique of quantile regression. The estimation resul...
Objetivou-se analisar o efeito de suplementação energética sobre o consumo e a fermentação ruminal de proteínas em dois níveis de proteína dietética (6 e 20%). Quatro novilhos mestiços fistulados no rúmen foram utilizados em um quadrado latino e os tratamentos arranjados em um fatorial 2 × 2, em que as dietas testadas constituíram-se de: A. só feno; B. feno + 2,8 kg de farelo de soja; C. feno + 2,8 kg de fubá d...
Avaliaram-se os efeitos da fermentação in vitro de seis alimentos: fubá de milho (FM), farelo de soja (FS), farelo de trigo (FT), sorgo (SO), glúten de milho (GM) e uréia (UR), incubados puros ou com o antibiótico monensina, esse na forma pura para análise (Monensina) ou comercial (Rumensin®). O experimento constituiu-se de 18 unidades experimentais [três alimentos energéticos ou protéicos × três tratamentos (c...
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