Elkemali, Taoufik; Rejeb, Aymen Ben - In: Economics Bulletin 35 (2015) 2, pp. 1042-1055
This paper examines whether research and development (R&D) intensity affects the firm's financing decisions. We use a sample of European firms over the period 2002-2011. We argue that R&D asset has three fundamentals characteristics that make it different from ordinary investment and constrain...