Is R & D Financially Constrained? Theory and Evidence from Irish Manufacturing

By S. Bougheas, Holger Görg, Eric Strobl. 2003

125 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/d3fce43108f1415d1097af1d138d54e569a12122

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Citations in the corpus

Adverse selection and financing of innovation: is there a need for R&D subsidies? (2010, background): “cash flow, at least in the case of newly established, small, technology-based firms (e.g., Hall 1992; Hao and Jaffe 1993; Himmelberg and Petersen 1994; Bond et al. 2003; Bougheas et al. 2001).”
The Financing of R&D and Innovation (2009, unknown): “Bougheas, Goerg, and Strobl (2001) examined the effects of liquidity constraints on R&D investment using firm-level data for manufacturing firms in Ireland and also found evidence that R&D investment in these firms is financially constrained, in line with the previous studies of US and UK firms.”
Where does energy R&D come from? Examining crowding out from energy R&D (2012, background): “This is slightly lower than is typically found in thefinancial constraints literature, where R2 statistics typically approach 0.8 (see, for example, Bloch, 2005 and Bougheas et al., 2003).”
The Financing of Innovative Firms (2010, background): “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 that lowered the cost of this kind of capital to the firm. Harhoff (1998) found weak but”
NO DEEP POCKETS: SOME STYLIZED EMPIRICAL RESULTS ON FIRMS' FINANCIAL CONSTRAINTS (2010, unknown): “Bougheas et al. (2003), analysing net profits and long-term debt, also find evidence of financing constraints in R&D investment in Ireland, while they do not find evidence of constraints for investment in physical capital.”
Financial Constraints and the Failure of Innovation Projects (2018, unknown): “Due to the risky nature of the R &D activity, and as evidenced by Hall (1992), managers may have to finance their projects with internal funds (Bougheas et al., 2003; Chiao, 2002).”
Financial Constraints: Routine Versus Cutting Edge R&D Investment (2011, unknown): “1 For example, Chiao (2002) finds a negative influence of debt on R&D spending in science-based industries, but a positive one in non-science based industries indicating that risk is significantly lower in the latter.”
Firm growth and R&D expenditure (2010, background): “and growth of profits are similar to those in Coad (2007a). Whilst it is encouraging to observe that similar results can be found using both French and US data, we will focus on R&D growth here and not on the interactions between the growth of sales, employment and profits (the reader is referred to”
Do liquidity constraints matter in explaining firm size and growth? Some evidence from the Italian manufacturing industry (2006, background): “Along these lines, building upon recent contributions by Klette and Griliches (2000), Hall (2002), and Bougheas, Holger, and Strobl (2003), one might study the effect of financial constraints on R&D investment and growth.”
Financing constraints and investments in R&D: Evidence from Indian manufacturing firms (2015, unknown): “Bougheas et al. (2003) investigated the effect of financial constraints on the R&D investments of Irish firms.”
Industrial research versus development investment: The implications of financial constraints (2011, background): “…firms foremost use internal funds to finance innovation projects as compared to debt indicating such a gap in the cost of capital (Leland and Pyle 1977, Bhattacharya and Ritter 1983, Hall 1990, 1992, Himmelberg and Peterson 1994, Harhoff 1998, Bougheas et al. 2003, Czarnitzki and Hottenrott 2009).”
R&D investment and financing constraints of small and medium-sized firms (2011, background): “He emphasized the necessity of temporary monopoly profit for financing of future R&D.”