{"id":48793,"date":"2023-11-20T15:42:24","date_gmt":"2023-11-20T14:42:24","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/intangible-capital-as-a-production-factor\/"},"modified":"2024-04-21T11:53:32","modified_gmt":"2024-04-21T09:53:32","slug":"intangible-capital-as-a-production-factor","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/48793\/","title":{"rendered":"Intangible Capital as a Production Factor"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-48793","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"Firm-level Evidence from Austrian Microdata","text":"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.","onlinedate":"2023-05-12 12:00:00","lang":"English","publication_series":"","publication_date":"20230501","publication_date_year":"","publication_date_full":false,"publication_num_pages":"37","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":257039,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"660","journal":"WIFO Working Papers","publisher":"\u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung","invisible":false,"external":false,"embargo_date":"2023-05-12 12:00:00","types":[44410],"research_groups":[3491],"collaboration":"","persons":[3587,3488,17825],"persons_data":"[{\"personId\":3587,\"personName\":\"Klaus Friesenbichler\",\"organisationNames\":[]},{\"personId\":3488,\"personName\":\"Agnes K\u00fcgler\",\"organisationNames\":[]},{\"personId\":17825,\"personName\":\"Julia Schieber-Kn\u00f6bl\",\"organisationNames\":[\"STAT\"]}]","clients":[10704],"subclients":[],"partners":[8870,9425,9426,9427,9428,9429,9430,8971,9431,9432,9433,9434,9103,9435],"topics":[40938],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Friesenbichler, K.<\\\/span><span>, K\u00fcgler, A.<\\\/span>, &amp; Schieber-Kn\u00f6bl, J. (2023). <span>Intangible Capital as a Production Factor: Firm-level Evidence from Austrian Microdata<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (660).<\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Friesenbichler K<\\\/span><span>, K\u00fcgler A<\\\/span>, Schieber-Kn\u00f6bl J. <span class=\\\"title\\\"><span>Intangible Capital as a Production Factor: <span class=\\\"subtitle\\\">Firm-level Evidence from Austrian Microdata<\\\/span><\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2023 May 12;(660).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{d799d303c98a46b39615c179b2a56b3b,<\\\/div><div>  title     = \\\"Intangible Capital as a Production Factor: Firm-level Evidence from Austrian Microdata\\\",<\\\/div><div>  abstract  = \\\"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.\\\",<\\\/div><div>  keywords  = \\\"Intangible capital, R\\\\&amp;D, Firm level productivity, Investment, Production function, Austria\\\",<\\\/div><div>  author    = \\\"Klaus Friesenbichler and Agnes K{\\\\\\\"u}gler and Julia Schieber-Kn{\\\\\\\"o}bl\\\",<\\\/div><div>  note      = \\\"Intangible Capital as a Production Factor. Firm-level Evidence from Austrian Microdata\\\",<\\\/div><div>  year      = \\\"2023\\\",<\\\/div><div>  month     = may,<\\\/div><div>  day       = \\\"12\\\",<\\\/div><div>  language  = \\\"English\\\",<\\\/div><div>  journal   = \\\"WIFO Working Papers\\\",<\\\/div><div>  publisher = \\\"{\\\\\\\"O}sterreichisches Institut f{\\\\\\\"u}r Wirtschaftsforschung\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Intangible Capital as a Production Factor<\\\/p><p>T2  - Firm-level Evidence from Austrian Microdata<\\\/p><p>AU  - Friesenbichler, Klaus<\\\/p><p>AU  - K\u00fcgler, Agnes<\\\/p><p>AU  - Schieber-Kn\u00f6bl, Julia<\\\/p><p>N1  - Intangible Capital as a Production Factor. Firm-level Evidence from Austrian Microdata<\\\/p><p>PY  - 2023\\\/5\\\/12<\\\/p><p>Y1  - 2023\\\/5\\\/12<\\\/p><p>N2  - 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.<\\\/p><p>AB  - 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.<\\\/p><p>KW  - Intangible capital<\\\/p><p>KW  -  R&amp;D<\\\/p><p>KW  -  Firm level productivity<\\\/p><p>KW  -  Investment<\\\/p><p>KW  -  Production function<\\\/p><p>KW  -  Austria<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>PB  - \u00d6sterreichisches Institut f\u00fcr Wirtschaftsforschung<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Intangible Capital as a Production Factor - WIFO<\/title>\n<meta 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