Byun, Seong K.; Oh, Jong-Min; Xia, Han - 2023
Using a difference-in-differences (DiD) setting that leverages the staggered adoption of R&D tax credits across the U … to uphold short-term performances. We further show that the effect of R&D tax credits likely works through the increased … technology spillovers, which motivate peers to imitate instead of differentiating. Accordingly, we show that peer firms shift …