Intangible capital as a production factor. Firm-level evidence from Austrian microdata

We examine the role of intangible capital as a production factor using Austrian firm-level register data. The setting exemplifies the characteristics of an advanced, small, and open economy. Descriptive statistics show that intangible investment has increased over time. The intensive and extensive margins of firms' investments are highly skewed. They differ across sectors. A series of sample splits show that the components of intangible capital play different roles as inputs in the production function. Software and especially licences are important for SMEs and exporters. Research and development play an important role in production in all specifications. For firms that continuously invest in intangible capital, all components of intangible capital gain importance in the production functions. These results complement those found in previous studies and have implications for the strategic orientation of industrial and innovation policy.

Authors

Institutions

Publication Details

Journal
Applied Economics
Published
2024-08-08
DOI
https://doi.org/10.1080/00036846.2024.2387369
Citations
1
Primary Topic
Economic Growth and Productivity
Type
article
Field-Weighted Citation Impact
1.13

Funders

Controls
|||
ALL TIME
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
article

Intangible capital as a production factor. Firm-level evidence from Austrian microdata

Agnes Kügler, Klaus S. Friesenbichler, Julia Schieber-Knöbl
1 citations
Applied Economics
Economic Growth and Productivity
1.13
article

Intangible capital as a production factor. Firm-level evidence from Austrian microdata

Agnes Kügler, Klaus S. Friesenbichler, Julia Schieber-Knöbl
article en
1 citations

Abstract

We examine the role of intangible capital as a production factor using Austrian firm-level register data. The setting exemplifies the characteristics of an advanced, small, and open economy. Descriptive statistics show that intangible investment has increased over time. The intensive and extensive margins of firms' investments are highly skewed. They differ across sectors. A series of sample splits show that the components of intangible capital play different roles as inputs in the production function. Software and especially licences are important for SMEs and exporters. Research and development play an important role in production in all specifications. For firms that continuously invest in intangible capital, all components of intangible capital gain importance in the production functions. These results complement those found in previous studies and have implications for the strategic orientation of industrial and innovation policy.

Applied EconomicsVol. 57(43)
Austrian Institute of Economic Research (AT), Statistics Austria (AT), Austrian Standards (AT)
Horizon 2020
Industry, innovation and infrastructure
Openalex Percentile: Top 12%
Economic Growth and Productivity
1.13
AI Navigator

Ask Laika to Summarize, Analyze, and Connect papers live on the map.

Summarize Papers & Methodologies

Extract key findings, datasets, and comparative methods across publications.

Benchmark Rankings & Visual Analytics

Rank top research institutions, authors, funders, topics, and journals by Field-Weighted Citation Impact (FWCI) and paper volume with instant charts.

Connect Distant Disciplines

Bridge topological clusters on the map to find hidden collaborative intersections.

Intangible capital as a production factor. Firm-level evidence from Austrian microdata — Agnes Kügler, Klaus S. Friesenbichler, et al. · Applied Economics (2024) | TGRS Research Map | TGRS