Debt financing and R&D investments
Abstract
Our model shows that firm's debt-equity ratio decreases with R&D investment returns, firms' R&D specialization degree, and internal funds availability. Our basic hypothesis is that firms specialized in R&D assimilate faster than others their R&D investment.Download Info
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Paper provided by Universidad Carlos III de Madrid in its series Open Access publications from Universidad Carlos III de Madrid with number info:hdl:10016/6515.Length:
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Handle: RePEc:ner:carlos:info:hdl:10016/6515
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Web page: http://www.uc3m.es
Related research
Keywords: R&D; Debt financing;Find related papers by 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, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
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