Business R&D and the interplay of R&D subsidies and product market uncertainty

被引：80

作者：

Czarnitzki, Dirk ^{[1
,2
]}

Toole, Andrew A. ^{[3
]}

机构：

[1] Katholieke Univ Leuven, Dept Managerial Econ Strategy & Innovat, B-3000 Louvain, Belgium

[2] ZEW, Mannheim, Germany

[3] Rutgers State Univ, Dept Agr Food & Resource Econ, New Brunswick, NJ 08901 USA

来源：

REVIEW OF INDUSTRIAL ORGANIZATION | 2007年 / 31卷 / 03期

关键词：

R&D; real options theory; uncertainty;

D O I：

10.1007/s11151-007-9152-x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the effect of product market uncertainty and government research and development (R&D) subsidies on firm-level R&D investment. Using a sample of German manufacturing firms, we find that product market uncertainty reduces R&D investment and government R&D subsidies increase R&D investment. Moreover, our results indicate that R&D subsidies mitigate the effect of product market uncertainty on R&D investment. These findings suggest that public policies aimed at increasing business R&D investment can achieve this objective by reducing the degree of uncertainty in the product market.

引用

页码：169 / 181

页数：13

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