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首页> 外文期刊>International Review of Economics and Finance >Innovation, research and development, and firm profitability in Taiwan: Causality and determinants
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Innovation, research and development, and firm profitability in Taiwan: Causality and determinants

机译：台湾的创新，研发和企业盈利能力：因果关系和决定因素

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摘要

Using data from Taiwanese manufacturing firms for the 2000-2015 period, the results of the system-generalised method of moments revealed the direction of causality from a firm's innovative activities to firm profitability. This study also revealed that the profitability of innovative firms surpassed that of noninnovative firms by employing propensity score matching. We further observed a short-term profit-enhancing effect of a firm obtaining a patent after controlling for firm heterogeneity and the endogeneity problem. Our results indicate that firms that invested in research and development successfully obtained patents, and the protection granted by government-issued patents improved their profitability. These findings have strong policy-related implications; innovation policymakers in the government should ensure a favourable industrial environment that focuses on giving firms incentives to improve performance.
机译：利用台湾制造公司2000年至2015年的数据，系统概括的矩量法的结果揭示了因果关系从公司的创新活动向公司的获利能力的方向。这项研究还表明，通过采用倾向得分匹配，创新型企业的盈利能力超过了非创新型企业。我们还观察到，在控制了公司的异质性和内生性问题之后，获得专利的公司会在短期内提高利润。我们的结果表明，对研发进行投资的公司成功获得了专利，并且政府颁发的专利授予的保护提高了它们的盈利能力。这些发现具有与政策相关的强烈含义；政府中的创新决策者应确保营造有利的工业环境，该环境应侧重于激励企业提高绩效。

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