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http://hdl.handle.net/10419/60478
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| Title: | | Collaborative R&D as a strategy to attenuate financing constraints  |
| Authors: | | Czarnitzki, Dirk Hottenrott, Hanna |
| Issue Date: | | 2012 |
| Series/Report no.: | | ZEW Discussion Papers 12-049 |
| Abstract: | | The ability of firms to establish R&D collaborations that combine resources, exploit complementary know-how, and internalize R&D externalities has been shown to be of high importance for the successful creation and implementation of new knowledge. We argue in this article that collaborative R&D may not only be beneficial in terms of appropriability of returns to R&D investment, access to the partner's knowledge base and the exploitation of scale and scope in R&D, but that it may also be a strategy to cope with financing constraints for R&D. Studying panel data we show that collaboration with science alleviates liquidity constraints for research. Horizontal collaboration reduces liquidity constraints for both research as well as R and D. Vertical collaboration has no such effects. |
| Subjects: | | Collaborative Research Industry-Science Links Research and Development Liquidity Constraints Innovation Policy |
| JEL: | | O31 O32 O38 |
| Persistent Identifier of the first edition: | | urn:nbn:de:bsz:180-madoc-324963 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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