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dc.contributor.authorArvanitis, Spyrosen_US
dc.contributor.authorWoerter, Martinen_US
dc.description.abstractAim 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.en_US
dc.publisher|aKOF |cZürichen_US
dc.relation.ispartofseries|aKOF working papers // KOF Swiss Economic Institute, ETH Zurich |x277en_US
dc.subject.keywordanti-cyclical behaviouren_US
dc.subject.keywordpro-cyclical behaviouren_US
dc.titleFirm characteristics and the cyclicality of R&D investmentsen_US
dc.typeWorking Paperen_US

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