R&D drivers and age: Are young firms different?

This study examines the relationship between R&D drivers and firm's age, taking into account the autoregressive nature of innovation. Using a large longitudinal dataset comprising Spanish manufacturing firms over the period 1990–2008, we find that previous R&D experience is a fundamental determinant for mature and young firms, albeit to a smaller extent in the case of younger firms, suggesting that their innovation behaviour is less persistent...