Zobrazeno 1 - 10
of 49
pro vyhledávání: '"Bruce C. Petersen"'
Publikováno v:
Journal of Financial and Quantitative Analysis. :1-60
Publikováno v:
Managerial and Decision Economics. 40:772-786
The temporary shutdown condition provides guidance on dealing with a serious transitory downturn in demand. The traditional condition says managers should stop production when revenues fall below avoidable costs. This condition is flawed because it i
Publikováno v:
SSRN Electronic Journal.
Financial sector income grew rapidly after World War II relative to the full economy and the services sector, but these are poor benchmarks because they mask a broad structural shift from low- to high-skill services. The finance income share closely
Publikováno v:
Journal of Financial Intermediation. 32:45-59
The high-tech sector accounts for the majority of corporate innovation in modern economies. In a sample of 38 countries, we document a strong positive relation between the initial size of the country's high-tech sector and subsequent rates of GDP and
Publikováno v:
Research Policy. 46:447-462
R&D drives innovation and productivity growth, but appropriability problems and financing difficulties likely keep R&D investment well below the socially optimal level, particularly in high ...
Autor:
Bruce C. Petersen, James R. Brown
Publikováno v:
Journal of Financial Intermediation. 24:441-465
We study how firms engaged in both R&D and fixed investment manage liquidity and adjust real investment during the recent financial crisis. Among firms with positive R&D expenditures, cuts to fixed investment in the crisis are typically far more seve
Publikováno v:
The Journal of Finance. 68:1517-1549
We study a broad sample of firms across 32 countries and find that strong shareholder protections and better access to stock market financing lead to substantially higher long-run rates of R&D investment, particularly in small firms, but are unimport
Publikováno v:
European Economic Review. 56:1512-1529
Information problems and lack of collateral value should make R&D more susceptible to financing frictions than other investments, yet existing evidence on whether financing constraints limit R&D is decidedly mixed, particularly in the studies of non-
Publikováno v:
SSRN Electronic Journal.
The high-tech sector accounts for the majority of corporate innovation in modern economies. In a sample of 38 countries, we document a strong positive relation between the initial size of the country’s high-tech sector and subsequent rates of GDP a
Autor:
James R. Brown, Bruce C. Petersen
Publikováno v:
Journal of Corporate Finance. 17:694-709
The sharp increase in R&D investment in recent decades has important but unexplored implications for corporate liquidity management. Because R&D has high adjustment costs and is financed with volatile sources, it is very expensive for firms to adjust