Renewable Energy Innovations in Europe: A Dynamic Panel Data Approach
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WPnull/09 Renewable Energy Innovations in Europe: A Dynamic Panel Data Approach
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Authors
- Nadia Ayari(nayari@alumni.unav.es)
School of Economics and Business Administration, University of Navarra, Spain
- Szabolcs Blazsek(sblazsek@unav.es)
School of Economics and Business Administration, University of Navarra, Spain
- Pedro Mendi(pmendi@unav.es)
School of Economics and Business Administration, University of Navarra, Spain.
Abstract We investigate the determinants of renewable energy R&D intensity and the impact of renewable energy innovations on firm performance, using several dynamic panel data models. We estimate these models using a large dataset of European firms of 19 different countries, with some patenting activity in areas related with renewable energies during the 1987-2007 period. The results that we obtain confirm our a prioris on the determinants of the rapid development of renewable energy R&D intensity during the last decades. Additionally, we find evidence that renewable patent intensity has significant dynamic impact on the stock market value of firms.
Classification JEL:C15, C31, C32, C33, C41
Keywords:R&D intensity, Stock market value, Patents, Count data, Dynamic panel data
Number of Pages:41
Creation Date:2009-11-01
Number:null/09
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