| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5103868 | Research Policy | 2017 | 10 Pages |
Abstract
The results show that technological capability amplifies the internal cash flow effect and cause volatility in R&D investment when sales increase over the sales of the previous year; positive shocks. However, technological capability offsets the internal cash flow effect and causes persistency in R&D investment when sales decreases from the sales of the previous year; negative shocks. These imply that R&D investment is not a dichotomous decision between persistency and volatility and is conditional on each firm's technological capability.
Related Topics
Social Sciences and Humanities
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Business and International Management
Authors
Taewon Kang, Chulwoo Baek, Jeong-Dong Lee,