Investment, R& D, and Financial Constraints in Britain and Germany Export

@techreport{citeulike:1175954, abstract = {This paper tests for the importance of cash flow on investment in fixed capital and R\&D using firm-level panel data in two countries. For German firms, cash flow is not informative in simple econometric models of fixed investment or R\&D. In identical specifications for British firms, cash flow is informative about investment, although not about the level of R\&D spending conditional on the R\&D participation decision. In the UK, we also find that investment is less sensitive to cash flow for...}, author = {Bond, S. and Harhoff, D. and Reenen, Van J.}, citeulike-article-id = {1175954}, citeulike-linkout-0 = {http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.22.1581}, institution = {Institute for Fiscal Studies, London, and ZEW, Mannheim}, keywords = {enterprise, financing, rd}, posted-at = {2007-03-19 14:24:15}, priority = {2}, title = {Investment, R\& D, and Financial Constraints in Britain and Germany}, url = {http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.22.1581}, year = {1997} }

TY - RPRT ID - citeulike:1175954 L3 - citeulike-article-id:1175954 N2 - This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for British firms, cash flow is informative about investment, although not about the level of R&D spending conditional on the R&D participation decision. In the UK, we also find that investment is less sensitive to cash flow for... TI - Investment, R\& D, and Financial Constraints in Britain and Germany KW - enterprise KW - financing KW - rd AU - Bond, S AU - Harhoff, D AU - Reenen, Van PY - 1997/// UR - http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.22.1581 ER -