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HomeFinancing constraints and R&D investments of large corporations in Europe and the USA
Financing constraints and R&D investments of large corporations in Europe and the USA
Publication metadata
This paper explores the existence and importance of financing constraints for R&D investments in large EU and US manufacturing companies over the 2000 – 2007 period. The main results obtained by estimating error-correction equations suggest that the sensitivity of R&D investments to cash flow variations are important for European firms while US ones do not appear to be financially constrained. In terms of policy implications, these results suggest improving the conditions for access to external capital to finance R&D activities in the EU.
- Published:
- Corporate author(s): Directorate-General for Research and Innovation (European Commission) , Institute for Prospective Technological Studies (Joint Research Centre)
- Personal author(s): Cincera, Michele ; Ravet, Julien
- Subject: European Union , financing , investment , research and development , research expenditure (EU) , research report , scientific research , United States
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| ISSN 1831-872X | ISBN 978-92-79-15718-9 | DOI 10.2791/41316 | Catalogue number LF-NC-24325-EN-C |
- Released on EU Publications:
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