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http://hdl.handle.net/10419/50440
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| Title: | | Firm characteristics and the cyclicality of R&D investments  |
| Authors: | | Arvanitis, Spyros Woerter, Martin |
| Issue Date: | | 2011 |
| Series/Report no.: | | KOF working papers // KOF Swiss Economic Institute, ETH Zurich 277 |
| Abstract: | | Aim of this study is to combine micro-aspects of firm behaviour with macro-aspects of business development and identify market conditions (for example, price competition) and firm characteristics (for example, type of R&D partners) that enable a firm to have a procyclical, anti-cyclical or non-systematic R&D investment behaviour. New elements of our analysis are: (a) the identification in our data of the above three main types of R&D behaviour with respect to the fluctuation of overall economic activity as measured by a standard composite indicator of the business conditions at industry level and (b) the investigation of a series of hypotheses as to innovation-relevant firm characteristics that underline the three different behaviour categories. The empirical results confirm to large extent our hypotheses and allow us to make profiles of the three types of R&D behaviour. |
| Subjects: | | R&D anti-cyclical behaviour pro-cyclical behaviour |
| JEL: | | O3 |
| Persistent Identifier of the first edition: | | doi:10.3929/ethz-a-006423007 |
| Document Type: | | Working Paper |
| Appears in Collections: | | KOF Working Papers, KOF Konjunkturforschungsstelle, ETH Zürich
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