Published

2018-12-01

Does firm innovation lead to high growth? Evidence from Ecuadorian firms

¿La innovación empresarial conduce al alto crecimiento? Evidencia de empresas ecuatorianas

A inovação nos negócios leva a um alto crescimento? Evidências de empresas equatorianas

DOI:

https://doi.org/10.15446/cuad.econ.v37n75.68621

Keywords:

Firm growth, high-growth firms, job creation, entrepreneurship, innovation (en)
crecimiento empresarial, empresas de alto crecimiento, creación de empleo, espíritu emprendedor, innovación (es)
crescimento empresarial, empresas de alto crescimento, criação de empregos, espírito empreendedor, inovação (pt)

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Authors

  • Valeria Ayala Universidad San Francisco de Quito
  • Diego F. Grijalva Universidad San Francisco de Quito
  • Paúl A. Ponce Secretaría Nacional de Planificación y Desarrollo (Senplades)
  • Yelitza Pontón Proventus Advisors
We analyse the determinants of: i) employment and sales growth, and ii) the likelihood of becoming a high-growth firm (HGF) among Ecuadorian firms for the period 2011-2014. We apply a two-stage econometric model that controls for selection bias in the choice to innovate in regards to the two rounds of the Ecuadorian National Innovation Activities Survey. We find that younger firms and firms that spend more on R&D activities per employee have significantly higher levels of employment growth and are significantly more like to become employment HGFs.
Analizamos los determinantes de: 1) crecimiento del empleo y de las ventas, y 2) la probabilidad de convertirse en una empresa de alto crecimiento entre las compañías ecuatorianas para el periodo 2011-2014. Aplicamos un modelo econométrico de dos etapas que controla el sesgo de selección en la elección de innovar con respecto a las dos rondas de la Encuesta Nacional de Actividades de Innovación de Ecuador. Encontramos que las empresas más jóvenes y aquellas que invierten más en actividades de investigación y desarrollo por empleado tienen niveles significativamente mayores de crecimiento del empleo y son significativamente más propensas a convertirse en empresas de alto crecimiento de empleo.
Analisamos os determinantes de: 1) crescimento do emprego e das vendas, e 2) a probabilidade de se tornar uma empresa de alto crescimento entre as empresas equatorianas para o período 2011-2014. Aplicamos um modelo econométrico de dois estágios que controla o viés de seleção na escolha de inovar em relação às duas rodadas da Pesquisa Nacional de Atividades de Inovação do Equador. Descobrimos que as empresas mais jovens e aquelas que investem mais em atividades de pesquisa e desenvolvimento por funcionário têm níveis significativamente mais altos de crescimento de emprego e são significativamente mais propensas a se tornarem empresas de alto crescimento de emprego.

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How to Cite

APA

Ayala, V., Grijalva, D. F., Ponce, P. A. and Pontón, Y. (2018). Does firm innovation lead to high growth? Evidence from Ecuadorian firms. Cuadernos de Economía, 37(75), 697–726. https://doi.org/10.15446/cuad.econ.v37n75.68621

ACM

[1]
Ayala, V., Grijalva, D.F., Ponce, P.A. and Pontón, Y. 2018. Does firm innovation lead to high growth? Evidence from Ecuadorian firms. Cuadernos de Economía. 37, 75 (Dec. 2018), 697–726. DOI:https://doi.org/10.15446/cuad.econ.v37n75.68621.

ACS

(1)
Ayala, V.; Grijalva, D. F.; Ponce, P. A.; Pontón, Y. Does firm innovation lead to high growth? Evidence from Ecuadorian firms. Cuad. econ 2018, 37, 697-726.

ABNT

AYALA, V.; GRIJALVA, D. F.; PONCE, P. A.; PONTÓN, Y. Does firm innovation lead to high growth? Evidence from Ecuadorian firms. Cuadernos de Economía, [S. l.], v. 37, n. 75, p. 697–726, 2018. DOI: 10.15446/cuad.econ.v37n75.68621. Disponível em: https://revistas.unal.edu.co/index.php/ceconomia/article/view/68621. Acesso em: 22 jan. 2025.

Chicago

Ayala, Valeria, Diego F. Grijalva, Paúl A. Ponce, and Yelitza Pontón. 2018. “Does firm innovation lead to high growth? Evidence from Ecuadorian firms”. Cuadernos De Economía 37 (75):697-726. https://doi.org/10.15446/cuad.econ.v37n75.68621.

Harvard

Ayala, V., Grijalva, D. F., Ponce, P. A. and Pontón, Y. (2018) “Does firm innovation lead to high growth? Evidence from Ecuadorian firms”, Cuadernos de Economía, 37(75), pp. 697–726. doi: 10.15446/cuad.econ.v37n75.68621.

IEEE

[1]
V. Ayala, D. F. Grijalva, P. A. Ponce, and Y. Pontón, “Does firm innovation lead to high growth? Evidence from Ecuadorian firms”, Cuad. econ, vol. 37, no. 75, pp. 697–726, Dec. 2018.

MLA

Ayala, V., D. F. Grijalva, P. A. Ponce, and Y. Pontón. “Does firm innovation lead to high growth? Evidence from Ecuadorian firms”. Cuadernos de Economía, vol. 37, no. 75, Dec. 2018, pp. 697-26, doi:10.15446/cuad.econ.v37n75.68621.

Turabian

Ayala, Valeria, Diego F. Grijalva, Paúl A. Ponce, and Yelitza Pontón. “Does firm innovation lead to high growth? Evidence from Ecuadorian firms”. Cuadernos de Economía 37, no. 75 (December 1, 2018): 697–726. Accessed January 22, 2025. https://revistas.unal.edu.co/index.php/ceconomia/article/view/68621.

Vancouver

1.
Ayala V, Grijalva DF, Ponce PA, Pontón Y. Does firm innovation lead to high growth? Evidence from Ecuadorian firms. Cuad. econ [Internet]. 2018 Dec. 1 [cited 2025 Jan. 22];37(75):697-726. Available from: https://revistas.unal.edu.co/index.php/ceconomia/article/view/68621

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CrossRef citations5

1. Raysa Geaquinto Rocha, João J. Ferreira. (2022). Gazelles (High-Growth) Companies: a Bibliometric Science Map of the Field. Journal of the Knowledge Economy, 13(4), p.2911. https://doi.org/10.1007/s13132-021-00828-4.

2. Preetam Gaikwad. (2022). The Promises and Properties of Rapidly Growing Companies: Gazelles. , p.7. https://doi.org/10.1108/978-1-80117-818-120221002.

3. Preetam Gaikwad, Christoph Dörrenbächer. (2022). The Promises and Properties of Rapidly Growing Companies: Gazelles. , p.77. https://doi.org/10.1108/978-1-80117-818-120221005.

4. Aminatuzzuhro, Trisa Indrawati, Nurul Fitriani. (2024). Corporate Reputation, Available Slack, And Financial Distress Risk. Jurnal Akuntansi, 28(1), p.125. https://doi.org/10.24912/ja.v28i1.1821.

5. Mohammed Mahdi Abrishamkar, Yazid Abdullahi Abubakar, Jay Mitra. (2021). The influence of workforce agility on high-growth firms: The mediating role of innovation. The International Journal of Entrepreneurship and Innovation, 22(3), p.146. https://doi.org/10.1177/1465750320973896.

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