Industry 4.0 related innovation and firm growth

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URL:	https://madoc.bib.uni-mannheim.de/58296
URN:	urn:nbn:de:bsz:180-madoc-582964
Dokumenttyp:	Arbeitspapier
Erscheinungsjahr:	2020
Titel einer Zeitschrift oder einer Reihe:	ZEW Discussion Papers
Band/Volume:	20-070
Ort der Veröffentlichung:	Mannheim
Sprache der Veröffentlichung:	Englisch
Einrichtung:	Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC-Schriftenreihe:	Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Fachgebiet:	330 Wirtschaft
Fachklassifikation:	JEL: L25 , O14 , O33,
Freie Schlagwörter (Englisch):	Industry 4.0 , patents , firm performance , sales growth
Abstract:	In this paper we explore the relationship between innovative firms that patent technology related to Industry 4.0 and their economic performance. By applying the new patent cartography developed by the EPO that identifies firm's 4.0 patents, this is one of the first large-scale, systematic studies on the impact of 4.0 technologies. Since 4.0 patents are more likely to be general purpose technologies, firms with 4.0 patents should be in a better position to increase their sales as 4.0 technology has on average a wider industrial applicability. Results of our Fixed Effects Least Squares regressions and Dynamic Panel Model suggest that 4.0 patent stock is positively associated to sales and that this effect is significantly larger than the effect of Non-4.0 patent stock. These effects are found to be decreasing with firm size.