Journal of Service Science and Management

Volume 1, Issue 3 (November 2008)

ISSN Print: 1940-9893   ISSN Online: 1940-9907

Google-based Impact Factor: 1.94  Citations  

Innovation in the Financial Sector: Persistence and Schumpeterian Hypotheses

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DOI: 10.4236/jssm.2008.13023    7,699 Downloads   13,673 Views  Citations
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ABSTRACT

The paper analyses innovation features in the German financial sector. The first topic is persistence of innovation. Our research question is: Do innovators plan further innovation for the subsequent year? In addition, since the sector is so far poorly researched, very basic questions are investigated in the paper: the relationship between firm size and innovation (both linear and quadratic), as well as the impact of market structure on innovation (i.e. Schumpeterian and neo-Schumpeterian hypotheses). Finally, Suttons argument of R & D sunk costs is investigated as a possible explanation for persistence. Basing on the CIS IV survey, our empirical evidence is consistent with the results of similar researches carried out in different sectors.

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Napoli, R. (2008) Innovation in the Financial Sector: Persistence and Schumpeterian Hypotheses. Journal of Service Science and Management, 1, 215-225. doi: 10.4236/jssm.2008.13023.

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