Firm growth and R and D expenditure

Alex Coad, Rekha Rao

研究成果: Article査読

122 被引用数 (Scopus)

抄録

We apply a panel vector autoregression model to a firm-level longitudinal database to observe the co-evolution of sales growth, employment growth, profits growth and the growth of research and development (R&D) expenditure. Contrary to expectations, profit growth seems to have little detectable association with subsequent R&D investment. Instead, firms appear to increase their total R&D expenditure following growth in sales and employment. In a sense, firms behave 'as if' they aim for a roughly constant ratio of R&D to employment (or sales). We observe heterogeneous effects for growing or shrinking firms, however, suggesting that firms are less willing to reduce their R&D levels following a negative growth shock than they are willing to increase R&D after a positive shock.

本文言語English
ページ(範囲)127-145
ページ数19
ジャーナルEconomics of Innovation and New Technology
19
2
DOI
出版ステータスPublished - 2010 3
外部発表はい

ASJC Scopus subject areas

  • 経済学、計量経済学および金融学(全般)
  • 技術マネージメントおよび技術革新管理

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