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Title:Collaborative R&D as a strategy to attenuate financing constraints PDF Logo
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:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

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