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Firm characteristics and the cyclicality of R&D investments

Author

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  • Spyros Arvanitis
  • Martin Woerter

Abstract

The aim of this study is to combine micro-aspects of firm behavior with macro aspects of business development and identify market conditions (e.g. price competition) and firm characteristics (e.g. type of R&D partners) that enable a firm to have a pro-cyclical, anti-cyclical, or non-systematic R&D investment behavior. The empirical results confirm to large extent a series of hypotheses as to innovation-relevant firm characteristics that underline the three different behavior categories and allow us to make profiles of the three types of R&D behavior.

Suggested Citation

  • Spyros Arvanitis & Martin Woerter, 2014. "Firm characteristics and the cyclicality of R&D investments," Industrial and Corporate Change, Oxford University Press, vol. 23(5), pages 1141-1169.
  • Handle: RePEc:oup:indcch:v:23:y:2014:i:5:p:1141-1169.
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    File URL: http://hdl.handle.net/10.1093/icc/dtt013
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    Cited by:

    1. Spyros Arvanitis & Euripidis N. Loukis, 2015. "Did the Reduction of ICT Investment Due to the 2008 Economic Crisis Affect the Innovation Performance of Firms? An Exploratory Analysis Based on Firm Data for the European Glass, Ceramics, and Cement ," KOF Working papers 15-391, KOF Swiss Economic Institute, ETH Zurich.
    2. Alex Armand & Pedro Mendi, 2017. "Demand Drops and Innovation Investments: Evidence from the Great Recession in Spain," NCID Working Papers 02/2017, Navarra Center for International Development, University of Navarra.
    3. 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.
    4. Bernhard Dachs, 2014. "R&D Internationalisation and the Global Financial Crisis," Chapters,in: The Internationalisation of Business R&D, chapter 13, pages 1-3 Edward Elgar Publishing.
    5. Adelheid Holl & Ruth Rama, 2015. "Economic crisis and innovation: Do regions matter?," ERSA conference papers ersa15p87, European Regional Science Association.
    6. Armand, Alex & Mendi, Pedro, 2017. "Demand Fluctuations and Innovation Investments: Evidence from the Great Recession in Spain," MPRA Paper 76884, University Library of Munich, Germany.
    7. Pellens, Maikel & Peters, Bettina & Hud, Martin & Rammer, Christian & Licht, Georg, 2018. "Public investment in R&D in reaction to economic crises: A longitudinal study for OECD countries," ZEW Discussion Papers 18-005, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    8. Alexander Eickelpasch, 2014. "R&D Behavior of German Manufacturing Companies during the 2008/09 Recession," Discussion Papers of DIW Berlin 1357, DIW Berlin, German Institute for Economic Research.
    9. repec:eee:respol:v:47:y:2018:i:5:p:854-871 is not listed on IDEAS
    10. repec:eee:respol:v:47:y:2018:i:7:p:1321-1333 is not listed on IDEAS

    More about this item

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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