Cash Holdings and R&D Smoothing

By James R. Brown, Bruce C. Petersen. 2011

701 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/1cd8eb077f15eb8f438da1eb3945c3238e74bcc3

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Citations in the corpus

Economic Policy Uncertainty And Corporate Cash Holdings (2017, positive): “index) (Cain et al., 2017; Lel & Miller, 2015) or threatened by stronger product market competitors (as proxied by a higher fluidity index) (Giroud & Mueller, 2011; Harford et al., 2017; Shleifer & Vishny, 1997). We further use two measures of internal governance to reflect the monitoring effectiven”
R&D sensitivity to asset sale proceeds: New evidence on financing constraints and intangible investment (2013, background): “, Brown, Fazzari, and Petersen, 2009) and that firms actively manage their liquid assets to keep investment smooth in the face of transitory finance shocks (e.g., Fazzari and Petersen, 1993; Brown and Petersen, 2011), suggesting that failure to control for these variables can cause misleading infere”
Do financial constraints threat the innovation process? Evidence from Portuguese firms (2011, methodology): “In fact, for R&D investment, but using an approach in line with Bond, Harhoff, and Van Reenen (2003) , Brown and Petersen (2011) suggest that financially constrained firms manage liquidity to smooth their R&D spending.”
Cash holdings and employee welfare (2013, positive): “…such as product market competition (Haushalter, Klasa, and Maxwell, 2007), corporate diversification (Duchin, 2010; Tong, 2011), R&D smoothing (Brown and Petersen, 2011), intangible capital (Falato, Kadyrzhanova, and Sim, 2012), customer relations (Itzkowitz, 2013), CEO inside debt (Liu,…”
Corporate cash holdings: Causes and consequences (2015, positive): “Brown and Petersen (2011) show that the smaller and younger firms hold cash to smooth out volatilities in R&D expenditures over time.”
The Financing of R&D and Innovation (2009, positive): “A novel finding in this paper and a companion paper by J. Brown and Petersen (2009) is the increased importance of public equity issuance in financing R&D in the United States, which doubtless reflects a shift in expectations on the part of investors during this period.”