IDEAS home Printed from https://ideas.repec.org/a/rev/reveca/v15y2007i3p99-123..html
   My bibliography  Save this article

Tamaño, restricciones financieras e inversión en i+d

Author

Listed:
  • María Ángeles Marra Domínguez

    (Universidad de Vigo)

Abstract

Este trabajo analiza empíricamente los efectos de restricciones de liquidez en la inversión en actividades de I+D de una muestra de empresas manufactureras españolas clasificada según su tamaño durante el periodo 1991-1999. Las estimaciones confirman que la inversión en I+D emprendida por las empresas de menor tamaño presenta una mayor sensibilidad al cash flow y una relación negativa fuerte con la tasa de endeudamiento, lo que sugiere la posible presencia de restricciones financieras. Por el contrario, para las grandes empresa se muestra que la variable cash flow es significativa, aunque presenta un poder explicativo pequeño, por lo que no se encuentra evidencia de que existan restricciones en el acceso a la financiación externa. Además, también se obtiene evidencia sobre el comportamiento inversor en activos materiales que señalan que no parece existir restricciones en la capacidad de endeudamiento de las empresas de pequeño y mediano tamaño analizadas.

Suggested Citation

  • María Ángeles Marra Domínguez, 2007. "Tamaño, restricciones financieras e inversión en i+d," Revista de Economia Aplicada, Universidad de Zaragoza, Departamento de Estructura Economica y Economia Publica, vol. 15(3), pages 99-123, Winter.
    • Handle: RePEc:rev:reveca:v:15:y:2007:i:3:p:99-123.
    as

    Download full text from publisher

    File URL: http://www.revecap.com/revista/numeros/45/pdf/marra.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    restricciones financieras; inversión en actividades de I+D; tamaño; pymes y grandes empresas;
    All these keywords.

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • 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, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rev:reveca:v:15:y:2007:i:3:p:99-123.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ana Belén Gracia (email available below). General contact details of provider: https://edirc.repec.org/data/dhzares.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.