The impact of COVID-19 pandemic on IT companies’ innovation activity in the USA
https://doi.org/10.55959/MSU0130-0105-6-58-5-11
Abstract
The goal of the research is to analyze the impact of COVID-19 pandemic on such innovative activity indicators as R&D spending and the number of international patents of American IT companies. The sample includes 130 US companies from 2010 to 2021. The data were analyzed using models with fixed individual effects and robust errors, Tobit regressions and Heckman models. The results of the study showed that companies from the technology equipment and telecommunications sectors increased R&D/Sales ratio during the pandemic. In addition, R&D spending, regardless of other indicators, increased during the pandemic for highly innovative firms. Also, firms that have international patents before the pandemic granted more patents for registration during the pandemic. A one-year lag was found between innovations’ input in the form of R&D investment and innovations’ output in the form of international patents. Thus, based on the results of the study, we concluded that COVID-19 has a positive impact only on highly innovative companies in the United States.
About the Authors
M. S. Evdokimova
HSE University
Russian Federation
Russian Federation
Moscow
Ekaterina I. Gubina
Pochta Bank
Russian Federation
Russian Federation
Moscow
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For citations:
Evdokimova M.S., Gubina E.I. The impact of COVID-19 pandemic on IT companies’ innovation activity in the USA. Moscow University Economics Bulletin. 2023;(5):234-261. (In Russ.) https://doi.org/10.55959/MSU0130-0105-6-58-5-11
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