Weltweit werden immer größere Anstrengungen zum Schutz und zur Verbesserung von Umwelt und Klima unternommen. Diese Entwicklung schlägt sich nicht nur in wachsenden Kosten und Investitionen für Umweltschutz nieder, sondern hat auch zu einer wachsenden Bedeutung der internationalen...

Several studies based on US and UK data have used market value as an indicator of the firm''s expected R&D performance. However, there exist no investigations for the continental countries in the European Union, partly because the analysis is complicated by data availability problems. In this...

We examine the impact of social trust on corporate R&D expenditure. Using a large sample of 1,811 Chinese firms during 2007-2018, we show that social trust significantly promotes corporate R&D expenditure. Firms located in higher social trust regions invest 6.16%(4.17%) more in R&D1(R&D2) than...

The motives behind merger and acquisitions (M&A) are often linked with the opportunities to obtain knowledge and technologies in order to enhance the competitive advantages of companies. In particular, the acquisition of digital technologies through mergers and acquisitions with ICT companies is...

We investigate how intangible assets in the form of R&D influence firms' hazards of engaging in international acquisitions. On the one hand, previous research has noted that the tacit and redeployable nature of R&D investments may prompt firms to expand their operations overseas and create value...

Scientific research has come to dominate many American universities. Even with growing external support, increasingly the costs of scientific research are being funded out of internal university funds. Our paper explains why this is occuring, presents estimates of the magnitudes of start-up cost...

We examine whether stock prices fully reflect the value of firms' intangible assets, focusing on research and development (R&D). Since intangible assets are not reported on financial statements under current U.S. accounting standards and R&D spending is expensed, the valuation problem may be...

We investigate the relationship between “Venture Capital Expenditures” and innovation in Europe. Data are collected from the European Innovation Scoreboard for 36 countries in the period 2010-2019. We perform Panel Data with Fixed Effects, Panel Data with Random Effects, Pooled OLS, WLS,...

We develop a simple theoretical model of the allocation of public biomedical research expenditure, and present some empirical evidence about the determinants of this allocation. The structure of expenditure should depend on the relative costs as well as the relative benefits of different kinds...

Is public R&D spending complementary and thus "additional" to private R&D spending, or does it substitute for and tend to "crowd out" private R&D? Conflicting answers are given to this question. We survey the body of available economectric evidence accumulated over the past 35 years. A framework...

This paper models how the evolving field of pharmacogenomics (PG), which is the science of using genomic markers to predict drug response, may impact drug development times, attrition rates, costs, and the future returns to research and development (R&D). While there still remains an abundance...

This paper considers the effect of acquisition FDI on the knowledge production function. We distinguish between acquisitions by MNEs from technologically leading countries and those behind the technological frontier. We show that both acquire similarly R&D intensive domestic firms, but there are...

Paper addresses the recent initiatives of EU Lisbon Agenda to increase level of R&D expenses in EU Member States by studying firm-level panel data in most advanced transition economy, Slovenia. Previous empirical literature - mainly cross-sectional - has tested the demand-pull hypothesis and...

The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of...

We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market game is solved by solving an equivalent auxiliary social choice problem. We show that standard auctions are fully efficient, whereas reserve price requirements entail a double...

Countries differ greatly in R&D spending, and these differences are particularly striking when comparing developed with developing countries. The paper examines the extent to which the benefits of R&D are concentrated in the investing countries. It is argued that significant benefits spill over...

The absence of observable innovation data for a firm often leads us to exclude or classify these firms as non-innovators. We assess the reliability of six methods for dealing with unreported innovation using several different counterfactuals for firms without reported R&D or patents. These tests...

We document strong evidence of a declining relation between R&D and future profitability, which coincides with a number of important economic changes including a significant increase in R&D spending. We identify several contributors to this decline, including changes in the nature and riskiness...

Abstract Background A significant share of business innovation arises from information and communication (ICT) sector. Business investment into research and development (R&D) activities can be seen as an important basis for innovation, which can further lead to better economic performance. This...

The paper deals with the problem of business spending on research and development and their relation to innovation activities. It is focused on R&D in the business sector as a crucial part of the innovation system. R&D expenditure can be seen as the main precondition of successful innovation....

This paper develops and estimates an industry equilibrium model of manufacturing plants in the Korean electric motor industry from 1991 to 1996. Plant-level decisions on R&D, physical capital investment, entry, and exit are integrated in a dynamic setting with knowledge spillovers. We use a...