Verlag:
City, University of London, City Political Economy Research Centre (CITYPERC), London
Zusammenfassung:
This article presents new insights on the evolving contribution of di!erent types of investments to the growth in sales of US non"nancial listed "rms during the 1979-2018 period. By means of quantile regressions it is observed an increasing contribution over time of intangible investment vis-à-vis a decline in capital expenditure both for high-growth and slow-growth "rms. However, the impact of di!erent types of intangible investment di!ers depending on the kind of "rm. Whereas research and development (R&D) has a positive contribution for highgrowth "rms, only advertising has a positive e!ect for their slow-growth peers.