Mark N. Harris, Mark Rogers, Anthony Siouclis
Abstract
Firm-level innovation is investigated using three probit panel estimators, which control for unobserved heterogeneity, and a standard probit estimator. Results indicate the standard probit model is misspecified and that inter-firm networks are important for innovation.
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Firm-level innovation is investigated using three probit panel estimators, which control for unobserved heterogeneity, and a standard probit estimator. Results indicate the standard probit model is misspecified and that inter-firm networks are important for innovation.
Key concepts: Estimator, Probit, Probit model, Ordered probit, Econometrics, Multivariate probit model, Economics, Panel data