IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

Foreign Capital, Credit Constraints and Continuity of Firms’ R&D

Listed author(s):
  • Pilar Beneito

    (Departamento de Análisis Económico. Facultad de Economia, Avda-Tarongers, s/n, 46022- Valencia, SPAIN.)

  • Maria Engracia Rochina-Barrachina

    (Departamento de Estructura Económica. Facultad de Economia, Avda-Tarongers, s/n, 46022- Valencia, SPAIN.)

  • Amparo Sanchis

    (Departamento de Estructura Económica. Facultad de Economia, Avda-Tarongers, s/n, 46022- Valencia, SPAIN.)

Using data for Spanish manufacturing firms in the period 1990-2006, we show that firms with foreign capital are significantly less likely to stop already initiated R&D projects and also more likely to sustain R&D investment when facing credit constraints. These results are robust to positive selection of target firms by foreign companies and to firms’ fixed effects.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: ftp://147.156.210.157/RePEc/pdf/eec_1506.pdf
File Function: First version, 2015
Download Restriction: no

Paper provided by Department of Applied Economics II, Universidad de Valencia in its series Working Papers with number 1506.

as
in new window

Length:
Date of creation: Jun 2015
Handle: RePEc:eec:wpaper:1506
Contact details of provider: Postal:
Edifici Departamental Oriental, Campus dels Tarongers, Avda. dels Tarongers, S/N (4P15), 46022 - València

Phone: 963 82 83 49
Fax: 963 82 83 54
Web page: http://www.estructuraeconomica.es
Email:


More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as
in new window


  1. Maria Guadalupe & Olga Kuzmina & Catherine Thomas, 2012. "Innovation and Foreign Ownership," American Economic Review, American Economic Association, vol. 102(7), pages 3594-3627, December.
  2. Philippe Aghion & Philippe Askenazy & Nicolas Berman & Gilbert Cette & Laurent Eymard, 2012. "Credit Constraints And The Cyclicality Of R&D Investment: Evidence From France," Journal of the European Economic Association, European Economic Association, vol. 10(5), pages 1001-1024, October.
  3. Paz Coscollá-Girona & Pilar Beneito López & Amparo Sanchis Llopis & María Engracia Rochina Barrachina, 2011. "Competitive pressure determinants and innovation at the firm level," Working Papers. Serie EC 2011-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  4. Beneito, Pilar & Rochina-Barrachina, María Engracia & Sanchis, Amparo, 2015. "The path of R&D efficiency over time," International Journal of Industrial Organization, Elsevier, vol. 42(C), pages 57-69.
  5. Pol Antràs & Mihir A. Desai & C. Fritz Foley, 2009. "Multinational Firms, FDI Flows, and Imperfect Capital Markets," The Quarterly Journal of Economics, Oxford University Press, vol. 124(3), pages 1171-1219.
  6. Mihir A. Desai & C. Fritz Foley & James R. Hines, 2004. "A Multinational Perspective on Capital Structure Choice and Internal Capital Markets," Journal of Finance, American Finance Association, vol. 59(6), pages 2451-2487, December.
  7. Richard Blundell & Rachel Griffith & John van Reenen, 1999. "Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms," Review of Economic Studies, Oxford University Press, vol. 66(3), pages 529-554.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:eec:wpaper:1506. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vicente Esteve)

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.