Although prior studies provide evidence that investment in research and development (R&D) expenditure enhances a firm's performance, very little evidence is available on the impact of a firm's life cycle stages on the association between R&D expenditures and firm performance. We classify firms...

This paper investigates a firm's investments in research and development (R&D) capital in different financial systems. This study examines both country-specific and firm-specific factors in the creation of a firm's R&D capital. The economic relevance of the estimated R&D capital in different...

This paper investigates a firm's investments in research and development (R&D) capital in different financial systems. This study examines both country-specific and firm-specific factors in the creation of a firm's R&D capital. The economic relevance of the estimated R&D capital in different...