Financing constraints and R&D investments of large corporations in Europe and the USA

Arbeitspapier

This paper explores the existence and importance of financing constraints for R&D investments in large EU and US manufacturing companies over the 2000 – 2007 period. The main results obtained by estimating error-correction equations suggest that the sensitivity of R&D investments to cash flow variations are important for European firms while US ones do not appear to be financially constrained. In terms of policy implications, these results suggest improving the conditions for access to external capital to finance R&D activities in the EU.

Angaben zum Objekt

• ISBN: 978-92-79-15718-9
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IPTS Working Papers on Corporate R&D and Innovation ; No. 03/2010

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models ; Investment; Capital; Intangible Capital; Capacity ; Innovation and Invention: Processes and Incentives
• Thema: Financial constraints ; R&D investments ; error-correction investment equations ; system GMM panel data econometric models

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Cincera, Michele ; Ravet, Julien
• Ereignis: Veröffentlichung
• (wer): European Commission, Joint Research Centre (JRC)
• (wo): Seville
• (wann): 2010

Weitere Informationen

• DOI: doi:10.2791/41316
• Handle: http://hdl.handle.net/10419/202119
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ