Firm age and innovation

Research output: Contribution to journalArticlepeer-review

202 Scopus citations


We examine how firm age relates to innovtion quality, and how this relationship varies depending on the nature of technology. Using data on patents of COMPUSTAT firms, we find that firm age is negatively related to technical quality, and that this effect is greater in technologically active areas. The economic implication of this effect is substantial; each additional year reduces the impact of a 10% increase in R&D intensity on the firm's market value by over 3%.

Original languageEnglish (US)
Pages (from-to)1019-1047
Number of pages29
JournalIndustrial and Corporate Change
Issue number5
StatePublished - 2008
Externally publishedYes

ASJC Scopus subject areas

  • Economics and Econometrics


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