Bianchini, StefanoPellegrino, GabrieleTamagni, Federico2017-06-122017-06-122016https://hdl.handle.net/2445/112272In this work, we explore the relations between sales growth and a set of innovation indicators that capture the different sources, modes and results of the innovative activity undertaken within firms. We exploit a rich panel on innovation activity of Spanish manufacturing firms, reporting detailed CIS-type information continuously over the period 2004-2011. Standard GMMpanel estimates of the average effect of innovation activities reveal significant and positive effect for internal R&D, while no effect is found for external sourcing of knowledge (external R&D, acquisition of embodied and disembodied technologies) as well as for output of innovation (process and product innovation). However, fixed-effects quantile regressions reveal that innovation activities, apart from process innovation and disembodied technical change, display a positive effect on high-growth performance. Finally, we find evidence of super-modularity of the growth function, revealing complementarities of internal R&D with product innovation, and between product and process innovation.43 p.application/pdfengcc-by-nc-nd, (c) Bianchini et al., 2016http://creativecommons.org/licenses/by-nc-nd/3.0/es/SocietatsCreació d'ocupacióRecerca industrialCorporationsJob creationIndustrial researchinfo:eu-repo/semantics/workingPaperinfo:eu-repo/semantics/openAccess