Firm Characteristics and the Cyclicality of R&D Investments
AbstractAim of this study is to combine micro-aspects of firm behaviour with macro-aspects of business development and identify market conditions (for example, price competition) and firm characteristics (for example, type of R&D partners) that enable a firm to have a procyclical, anti-cyclical or non-systematic R&D investment behaviour. New elements of our analysis are: (a) the identification in our data of the above three main types of R&D behaviour with respect to the fluctuation of overall economic activity as measured by a standard composite indicator of the business conditions at industry level and (b) the investigation of a series of hypotheses as to innovation-relevant firm characteristics that underline the three different behaviour categories. The empirical results confirm to large extent our hypotheses and allow us to make profiles of the three types of R&D behaviour.
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Bibliographic InfoPaper provided by KOF Swiss Economic Institute, ETH Zurich in its series KOF Working papers with number 11-277.
Length: 25 pages
Date of creation: Apr 2011
Date of revision:
R&D; anti-cyclical behaviour; pro-cyclical behaviour;
Find related papers by JEL classification:
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-07 (All new papers)
- NEP-BEC-2011-05-07 (Business Economics)
- NEP-COM-2011-05-07 (Industrial Competition)
- NEP-IND-2011-05-07 (Industrial Organization)
- NEP-INO-2011-05-07 (Innovation)
- NEP-SBM-2011-05-07 (Small Business Management)
- NEP-TID-2011-05-07 (Technology & Industrial Dynamics)
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- Spyros Arvanitis & Marius Ley & Tobias Stucki & Martin Woerter & Florian Seliger, 2012. "Trotz Krise nach wie vor starke Position der Schweizer Wirtschaft im internationalen Innovationswettbewerb," KOF Analysen, KOF Swiss Economic Institute, ETH Zurich, vol. 6(4), pages 31-40, December.
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