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Types de R&D. Quel impact sur la dette bancaire des entreprises ?

Author

Listed:
  • Jean Belin
  • Sandra Cavaco
  • Marianne Guille

Abstract

This paper provides a better understanding of the negative impact of R&D-to-sales ratio on bank debt financing by exploring whether it can be related to the type of R&D firms are involved in. Using a large panel of French firms, we show that this negative impact is mainly due to the more risky activities: Internal rather than external R&D and research activities rather than experimental development. Classification JEL : G32, O32, D21, C23

Suggested Citation

  • Jean Belin & Sandra Cavaco & Marianne Guille, 2012. "Types de R&D. Quel impact sur la dette bancaire des entreprises ?," Revue économique, Presses de Sciences-Po, vol. 63(5), pages 833-847.
    • Handle: RePEc:cai:recosp:reco_635_0833
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    Cited by:

    1. Jean Belin & Marianne Guille & Nathalie Lazaric & Valérie Mérindol, 2019. "Defense Firms Adapting to Major Changes in the French R&D Funding System," Defence and Peace Economics, Taylor & Francis Journals, vol. 30(2), pages 142-158, February.

    More about this item

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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