EconStor >
United Nations University (UNU) >
World Institute for Development Economics Research (UNU-WIDER), United Nations University >
WIDER Research Papers, United Nations University (UNU) >

Please use this identifier to cite or link to this item:
Title:Financial markets and R&D investments PDF Logo
Authors:Mazzoli, Marco
Issue Date:2005
Series/Report no.:Research Paper, UNU-WIDER, United Nations University (UNU) 2005/70
Abstract:This paper introduces a discrete-time intertemporal investment model in which the flow of profits affects the risk premium on the cost of finance, and, as a consequence, the rate of discount of future profits. While public investments, according to a consolidated literature, constitute the main bulk of innovation policies, this model is used to comment and interpret the potential use of another, secondary, public policy, consisting of tax incentives for firms performing R&D expenditures and issuing securities in the stock market. Linking public policies for innovation to the stock market might help to reduce the problems of discretionality and the monitoring of public expenditure used to finance R&D and technical innovation.
intertemporal firm choice
capital structure
financing policy
Document Type:Working Paper
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

Files in This Item:
File Description SizeFormat
50914165X.pdf170.2 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.