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Is R&D Always Beneficial?

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  • Hsu-Ling Chang

    (Department of Accounting and Information, Ling Tung University, Taichung, Taiwan)

  • Chi-Wei Su

    ()
    (Department of International Trade, Tamkang University, 151 Ying-Chun Road, Tamsui, Taipei, Taiwan 25137, Taiwan)

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    Abstract

    This study sets out with the aim of determining whether there is such a thing as an optimal level of research and development (R&D) intensity within which a firm can effectively maximize its sales growth ratio. We adopt an advanced panel threshold regression model to examine the relationship between R&D intensity and the growth rate in sales based upon data on firms within the electronics industry in Taiwan. The results demonstrate that R&D intensity has a positive impact on sales growth when the level of such R&D intensity is below the threshold value, and a negative impact when the level of R&D intensity is above the threshold value.

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    Bibliographic Info

    Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal Review of Pacific Basin Financial Markets and Policies.

    Volume (Year): 13 (2010)
    Issue (Month): 01 ()
    Pages: 157-174

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    Handle: RePEc:wsi:rpbfmp:v:13:y:2010:i:01:p:157-174

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    Related research

    Keywords: R&D growth; Gibrat's Law; panel unit root test; panel threshold regression model; C3; G3;

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