Modeling R&D investment decision of ISE listed firms: A sample selection approach
AbstractThere are a large number of studies on the drivers of R&D investment, only a few of them deal with “selection bias” problem resulting from performers not being a random sample from the population of firms. As most of the firms especially in developing countries like Turkey , due to market failures and underdeveloped financial markets, do not invest in R&D support policies that induce them to overcome this first obstacle also play a critical role. This paper studies the drivers of R&D activities in non-financial firms listed at Istanbul Stock Exchange by using a panel data at the establishment level for the 1998-2007 periods. Our findings suggest that although SMEs are less likely to conduct R&D, they spend proportionally more on R&D than the LSEs. Moreover, public support has a strong effect in raising R&D intensity of R&D performers.
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Bibliographic InfoArticle provided by Bilgesel Yayincilik in its journal İktisat İşletme ve Finans.
Volume (Year): 25 (2010)
Issue (Month): 289 ()
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Web page: http://iif.com.tr
R&D; Public support; Sample selection;
Find related papers by JEL classification:
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
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