Fortune Favours the Brave: The Distribution of Innovative Returns in Finland, the Netherlands and the UK

Bernd Ebersberger; Orietta Marsili; Toke Reichstein; Ammon Salter

doi:10.1016/j.strueco.2008.01.001

Fortune Favours the Brave: The Distribution of Innovative Returns in Finland, the Netherlands and the UK

Bernd Ebersberger, Orietta Marsili, Toke Reichstein, Ammon Salter

Research output: Contribution to journal › Journal article › Research › peer-review

Abstract

It is widely accepted that innovation may allow some industrial firms to reap great economic gains. Yet little is known about how the shape of the distribution of firm-level innovative returns differs across industries. The paper explores the general properties and sectoral differences in the distribution of share of innovative sales of manufacturing and service firms in Finland, the Netherlands and the UK. In general, the distribution is positively skewed with a long right tail. Applying a classification of industries in four broad categories, we find that the distribution exhibits significantly more skewness in sectors with low levels of technological opportunity. We explore the implications of these findings for research and theory on the economic implications of innovation.

Original language	English
Journal	Structural Dynamics and Economic Change
Volume	19
Issue number	4
Pages (from-to)	357-362
Number of pages	6
ISSN	0954-349X
DOIs	https://doi.org/10.1016/j.strueco.2008.01.001
Publication status	Published - 2008

Keywords

Innovative returns
Skewed distributions
Boot strapping
Technological opportunity

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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Cite this

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title = "Fortune Favours the Brave: The Distribution of Innovative Returns in Finland, the Netherlands and the UK",

abstract = "It is widely accepted that innovation may allow some industrial firms to reap great economic gains. Yet little is known about how the shape of the distribution of firm-level innovative returns differs across industries. The paper explores the general properties and sectoral differences in the distribution of share of innovative sales of manufacturing and service firms in Finland, the Netherlands and the UK. In general, the distribution is positively skewed with a long right tail. Applying a classification of industries in four broad categories, we find that the distribution exhibits significantly more skewness in sectors with low levels of technological opportunity. We explore the implications of these findings for research and theory on the economic implications of innovation.",

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AU - Salter, Ammon

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AB - It is widely accepted that innovation may allow some industrial firms to reap great economic gains. Yet little is known about how the shape of the distribution of firm-level innovative returns differs across industries. The paper explores the general properties and sectoral differences in the distribution of share of innovative sales of manufacturing and service firms in Finland, the Netherlands and the UK. In general, the distribution is positively skewed with a long right tail. Applying a classification of industries in four broad categories, we find that the distribution exhibits significantly more skewness in sectors with low levels of technological opportunity. We explore the implications of these findings for research and theory on the economic implications of innovation.

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KW - Technological opportunity

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