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Does persistence in using R&D tax credits help to achieve product innovations?

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Does persistence in using R&D tax credits help to achieve product innovations?

dc.contributor.author	Labeaga Azcona, José María
dc.contributor.author	Martínez-Ros, Ester
dc.contributor.author	Sanchis Llopis, Amparo
dc.contributor.author	Sanchis Llopis, Juan Alberto
dc.date.accessioned	2022-03-29T07:15:41Z
dc.date.available	2022-03-30T04:45:05Z
dc.date.issued	2021	es_ES
dc.identifier.citation	José M. Labeaga, Ester Martínez-Ros, Amparo Sanchis, Juan A. Sanchis, Does persistence in using R&D tax credits help to achieve product innovations?, Technological Forecasting and Social Change, Volume 173, 2021, 121065, ISSN 0040-1625, Elsevier	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/82066
dc.description.abstract	Despite the generosity of its tax system, Spain is far from EU countries in terms of R&D spending and innovation outcomes. A policy instrument commonly used to foster firms’ R&D investment are tax incentives. The use of this instrument is not generalized in firms spending on R&D, and only a fraction of firms are regular claimants. This paper investigates whether persistence in using tax credits is positively related to product innovations, beyond R&D investments. We consider that firms investing in qualified R&D and using tax credits regularly are likely to be firms aiming at innovating. By contrast, occasional tax credit users may be firms investing in R&D for different reasons, such as exploiting a business opportunity, or reducing their corporate tax burden, so that they may not prioritize innovating. Using a sample of Spanish manufacturing firms spanning 2001–2014, we first estimate persistence using a duration model accounting for firm observed and unobserved heterogeneity. Our results are consistent with negative duration dependence, indicating that the probability of ceasing in claiming tax credits decreases with the passage of time. Second, we estimate a count-data model and find that the number of product innovations positively depends on tax credit persistence only for SMEs.	es_ES
dc.language.iso	en	es_ES
dc.subject	tax credits	es_ES
dc.subject	persistence	es_ES
dc.subject	duration dependence	es_ES
dc.subject	count-data	es_ES
dc.title	Does persistence in using R&D tax credits help to achieve product innovations?	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::CIENCIAS ECONÓMICAS	es_ES
dc.identifier.doi	10.1016/j.techfore.2021.121065	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES