Measuring Innovation in Firms
This chapter examines the interdependence between various measurements of firms’ innovation outputs. Linking firm-level microdata from the Japanese National Innovation Survey to the literature-based microdata on firm innovation from press releases and dat
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Measuring Innovation in Firms Kenta Ikeuchi
Abstract This chapter examines the interdependence between various measurements of firms’ innovation outputs. Linking firm-level microdata from the Japanese National Innovation Survey to the literature-based microdata on firm innovation from press releases and data on intellectual property rights such as patents, trademarks, and design registrations, I construct a panel data set that captures the diversity of innovation activities. Additionally, I examine the effects of firms’ innovation outputs on the market value and productivity of firms. The empirical results suggest that observed firm’s press releases represent the multidimensional innovation activities of firms, particularly the radical product (new-to-market) innovations, organizational innovation, and research and development (R&D) activities for technological developments. For intellectual property rights, the empirical results show that firms with product innovation registered more trademarks, and firms with more radical new products registered trademarks. Patent data reflects the R&D activity of firms, while design registrations reflect the self-reported design innovations and design activity measured in the innovation survey. In addition to patent applications and trademark registrations, press releases on new products, technological developments, and organizational changes increase the market value of a firm. Keywords Design registration • Innovation • Literature-based innovation output indicator • Patent • Press release • R&D • Trademark
This chapter is the result of a joint research project of the National Institute of Science and Technology Policy (NISTEP) and the National Graduate Research Institute for Policy Studies (GRIPS), under the “Science for RE-designing Science, Technology and Innovation Policy (SciREX)” program promoted by the Ministry of Education, Culture, Sports, Science, and Technology (MEXT) of Japan. K. Ikeuchi () Research Institute of Economy, Trade and Industry (RIETI), IAA, 1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan National Institute of Science and Technology Policy (NISTEP), 3-2-2 Kasumigaseki, Chiyoda-ku, Tokyo 100-0013, Japan e-mail: [email protected] © Springer Nature Singapore Pte Ltd. 2017 Y. Honjo (ed.), Competition, Innovation, and Growth in Japan, DOI 10.1007/978-981-10-3863-1_5
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K. Ikeuchi
5.1 Introduction Innovation is one of the most important concepts for economic development, growth, and the wealth of nations. To capture innovation is to understand the determinants or process of productivity improvements. Japan has faced long-term economic stagnation that began in the early 1990s and labor shortages from an aging population; therefore, policy makers need ways to enhance productivity and encourage innovation. This subject has received attention from economic and science and technology policy makers, because it is widely believed that the knowledge creation and diffusion process is closely related to innovation. The definition of innovation i
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