R&D activity and financing constraints: Evidence from Turkey

Autor:	Gezici Armağan, Orhangazi Özgür, Yalçın Cihan
Jazyk:	English<br />French
Rok vydání:	2020
Předmět:	r&d investment financing constraint credit constraint internal funds cash flow turkey Economic theory. Demography HB1-3840
Zdroj:	Panoeconomicus, Vol 67, Iss 4, Pp 557-571 (2020)
Druh dokumentu:	article
ISSN:	1452-595X 2217-2386
DOI:	10.2298/PAN170420011G
Popis:	We analyze the relationship between financing constraints and firms’ R&D activity using a rich and comprehensive firm-level balance sheet and income statement data set of manufacturing firms in Turkey for the period 1996 to 2013. Using a firm-specific, time-varying financing constraints index, we find that financing constraints have a negative relationship with firms’ R&D activity, after controlling for other determinants of R&D such as firm size, capital intensity and export market participation.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/b2565f182cb443ca82f01eaa1099541d Zobrazit plný text záznamu View record in DOAJ