Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/142663
Authors: 
Cintio, Marco Di
Grassi, Emanuele
Year of Publication: 
2013
Series/Report no.: 
EERI Research Paper Series 13/2013
Abstract: 
This paper examines the effects of uncertainty and flexible labour contracts on the Research and Development (R&D) expenditure. Using a panel of Italian manufacturing firms, we find a hump-shaped relationship between workforce flexibility and R&D outlays. Moreover, as predicted by the real options theory, our results suggest that product market uncertainty reduces R&D efforts and that flexible labour contracts countervail the adverse effect of uncertainty on R&D.
Subjects: 
Real options theory
R&D
uncertainty
temporary workers
JEL: 
D22
D81
J41
O31
Document Type: 
Working Paper

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