Mahlich, Jörg C.; Roediger-Schluga, Thomas - United Nations University, Maastricht Economic and … - 2006
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Keywords: R&D, investment, panel data estimation, pharmaceuticals, Japan
JEL-classification: L65, O31, O33
UNU … pharmaceuticals in year t, and CFS
t-1
is cash flow divided by sales for firm
i in year t-1.
The typical proxy for investment …