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dc.contributor.authorCoad, Alexanderen_US
dc.contributor.authorRao, Rekhaen_US
dc.date.accessioned2008-02-20en_US
dc.date.accessioned2010-05-14T11:16:44Z-
dc.date.available2010-05-14T11:16:44Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/31852-
dc.description.abstractWe apply a panel vector autoregression model to a firm-level longitudinal database to observe the co-evolution of sales growth, employment growth, profits growth and growth of R&D expenditure. Contrary to expectations, profit growth seems to have little detectable effect on R&D investment. Instead, firms appear to increase their total R&D expenditure following growth in sales and growth of employment. In a sense, firms behave ‘as if’ they aim for a roughly constant ratio of R&D to employment (or sales). We observe heterogeneous effects for growing or shrinking firms however, suggesting that firms are less willing to reduce their R&D levels following a negative growth shock than they are willing to increase R&D after a positive shock.en_US
dc.language.isoengen_US
dc.publisherMax-Planck-Inst. für Ökonomik Jenaen_US
dc.relation.ispartofseriesPapers on economics and evolution 0710en_US
dc.subject.jelL20en_US
dc.subject.jelL10en_US
dc.subject.jelO32en_US
dc.subject.ddc330en_US
dc.subject.keywordFirm Growthen_US
dc.subject.keywordPanel VARen_US
dc.subject.keywordR&D expenditureen_US
dc.subject.keywordIndustrial Dynamicsen_US
dc.subject.stwUnternehmenswachstumen_US
dc.subject.stwIndustrielle Forschungen_US
dc.subject.stwForschungskostenen_US
dc.subject.stwUSAen_US
dc.titleFirm growth and R&D expenditureen_US
dc.typeWorking Paperen_US
dc.identifier.ppn558681204en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Papers on Economics and Evolution, MPI für Ökonomik

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