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R&D et innovation en France : quel financement pour les entreprises de la Défense ?

  • Jean Belin
  • Marianne Guille

We study the financing of R&D and innovation expenditures of French defence firms at the end of a period characterised by a decline of defence purchasing. Our results provide some support for the hypothesis of a dependence of these firms on public aid. However, large groups receive most of this aid and small independent firms are more dependent on bank loans. Improving their financing may induce an increasing of their R&D and innovation expenditures. JEL: L60, L64, G32, O3

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Article provided by De Boeck Université in its journal Innovations.

Volume (Year): n° 28 (2008)
Issue (Month): 2 ()
Pages: 33-59

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Handle: RePEc:cai:inndbu:inno_028_0033
Contact details of provider: Web page: http://www.cairn.info/revue-innovations.ht

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  1. Bloom, Nicholas & Griffith, Rachel & Van Reenen, John, 2000. "Do R&D Credits Work? Evidence From A Panel Of Countries 1979-97," CEPR Discussion Papers 2415, C.E.P.R. Discussion Papers.
  2. J. Paul Dunne & Ron Smith & Dirk Willenbockel, 2005. "Models Of Military Expenditure And Growth: A Critical Review," Defence and Peace Economics, Taylor & Francis Journals, vol. 16(6), pages 449-461.
  3. Hall, Bronwyn H., 2002. "The Financing of Research and Development," Department of Economics, Working Paper Series qt34c1c643, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  4. Keith Hartley, 2003. "The future of European defence policy: An economic perspective," Defence and Peace Economics, Taylor & Francis Journals, vol. 14(2), pages 107-115.
  5. Jean Belin & Marianne Guille, 2008. "Defence and firm financial structure in France," Post-Print hal-00152867, HAL.
  6. Neslihan Ozkan, 2002. "Effects of financial constraints on research and development investment: an empirical investigation," Applied Financial Economics, Taylor & Francis Journals, vol. 12(11), pages 827-834.
  7. Bruno Van Pottelsberghe & Dominique Guellec, 2003. "The impact of public R&D expenditure on business R&D," ULB Institutional Repository 2013/6213, ULB -- Universite Libre de Bruxelles.
  8. Robert H. Gertner & David S. Scharfstein & Jeremy C. Stein, 1994. "Internal versus External Capital Markets," The Quarterly Journal of Economics, Oxford University Press, vol. 109(4), pages 1211-1230.
  9. David Kirkpatrick, 2004. "Trends in the costs of weapon systems and the consequences," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(3), pages 259-273.
  10. Damien Besancenot & Radu Vranceanu, 2006. "European Defence Firms: The Information Barrier On Private Finance," Defence and Peace Economics, Taylor & Francis Journals, vol. 17(1), pages 23-36.
  11. Robert H. Gertner & David S. Scharfstein & Jeremy C. Stein, 1994. "Internal versus External Capital Markets," NBER Working Papers 4776, National Bureau of Economic Research, Inc.
  12. Goyal, Vidhan K. & Lehn, Kenneth & Racic, Stanko, 2002. "Growth opportunities and corporate debt policy: the case of the U.S. defense industry," Journal of Financial Economics, Elsevier, vol. 64(1), pages 35-59, April.
  13. Ugur Muldur, 2001. "Is Capital Optimally Allocated in the Overall Process of European Innovation ?," Revue d'Économie Industrielle, Programme National Persée, vol. 94(1), pages 115-153.
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