Many studies investigate the relationship between R&D and patents applying knowledge production functions. Using aggregated R&D may underestimate the productivity of 'R', as mainly 'R' but not 'D' leads to patents. Disaggregating 'R' and 'D' shows a significant premium of 'R' towards patenting.

R&D encompasses plenty of activities which are usually summarized under the terms of basic research, applied research and development. Although basic research is often associated with low appropriability it provides the fundamental basis for subsequent applied research and development....

Previous literature provided evidence on financing constraints for investment in research and development (R&D) activities due to capital market imperfections and special features of R&D investments. Moreover, it has been shown that a shift in capital structure towards more debt results in a...

Tomatoes or tomato pickers? Free trade and migration between Mexico and the United States

The increasing commercialization of university discoveries has initiated a controversy on the impact for scientific research. It has been argued that an increasing orientation towards commercialization may have a negative impact on more fundamental research efforts in science. Several scholars...

Credit ratings are commonly used by lenders to assess the default risk, because every credit is connected with a possible loss. If the probability of a default is above a certain threshold, a credit will not be provided. The purpose of this study is to test whether credit ratings contribute...