Get with the Program: Software-Driven Innovation in Traditional Manufacturing

• 成果类型: Article
• 署名作者: Branstetter, Lee G.; Drev, Matej; Kwon, Namho
• 署名单位: Carnegie Mellon University; National Bureau of Economic Research; University System of Georgia; Georgia Institute of Technology
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.2017.2960
• 发表日期: 2019
• 页码: 541-558
• 关键词: software revolution; traditional manufacturing; technological change; INNOVATION PERFORMANCE; Tobin's Q

摘要

This paper documents the increasing importance of software for successful innovation in manufacturing sectors well beyond the traditional definition of electronics and information technology. Using panel data for 229 publicly listed firms from 18 countries across four manufacturing industries over the period 1981-2005, we find significant variation across firms in the software intensity of their innovative activity. Firms that exhibit a higher level of software intensity generate more patents per R&D dollar, and their investment in R&D is more highly valued by equity markets.