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

Arbeitspapier

We examine the role of intangible capital as a production factor using Austrian firm-level register data. 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 licenses 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 patterns differ from those found in previous studies and have implications for the strategic orientation of industrial and innovation policy.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: WIFO Working Papers ; No. 660

Classification and Topics

• Classification: Wirtschaft ; Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General ; Firm Organization and Market Structure ; Multiple or Simultaneous Equation Models: Panel Data Models; Spatio-temporal Models
• Subject: intangible capital ; R&D ; firm level productivity ; investment ; production function ; Austria

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Friesenbichler, Klaus S. ; Kügler, Agnes ; Schieber-Knöbl, Julia
• Event: Veröffentlichung
• (who): Austrian Institute of Economic Research (WIFO)
• (where): Vienna
• (when): 2023

Further information

• Handle: http://hdl.handle.net/10419/278503
• Last update: 10.03.2025, 11:42 AM CET