Collaborative R&D as a strategy to attenuate financing constraints

Arbeitspapier

The ability of firms to establish R&D collaborations that combine resources, exploit complementary know-how, and internalize R&D externalities has been shown to be of high importance for the successful creation and implementation of new knowledge. We argue in this article that collaborative R&D may not only be beneficial in terms of appropriability of returns to R&D investment, access to the partner's knowledge base and the exploitation of scale and scope in R&D, but that it may also be a strategy to cope with financing constraints for R&D. Studying panel data we show that collaboration with science alleviates liquidity constraints for research. Horizontal collaboration reduces liquidity constraints for both research as well as R and D. Vertical collaboration has no such effects.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ZEW Discussion Papers ; No. 12-049

Classification and Topics

• Classification: Wirtschaft ; Innovation and Invention: Processes and Incentives ; Management of Technological Innovation and R&D ; Technological Change: Government Policy
• Subject: Collaborative Research ; Industry-Science Links ; Research and Development ; Liquidity Constraints ; Innovation Policy ; Industrielle Forschung ; Forschungskooperation ; Forschungsfinanzierung ; Verschuldungsrestriktion ; Schätzung ; Flandern ; Belgien

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Czarnitzki, Dirk ; Hottenrott, Hanna
• Event: Veröffentlichung
• (who): Zentrum für Europäische Wirtschaftsforschung (ZEW)
• (where): Mannheim
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/60478
• URN: urn:nbn:de:bsz:180-madoc-324963
• Last update: 10.03.2025, 11:45 AM CET