Depreciation Rate of R&D Capital: Panel Data Analysis of Listed Firms in Japanese R&D-Intensive Industries

Hirotsugu Sakai

Asian Economic and Financial Review, 2016, vol. 6, issue 4, 196-205

Abstract: Research and development (R&D) capital is thought to be at the core of technological progress. To measure the effect of R&D capital correctly, the knowledge of its depreciation rate is required. However, few studies have paid attention to the depreciation rate of R&D capital for recent Japanese firms. This study estimates the depreciation rate of R&D capital by two methods using panel data of listed Japanese firms in R&D-intensive industries. The results show that the rates are higher than the conventionally accepted 15 percent and those estimated by previous studies for Japanese firms.

Keywords: Research and development (R&D); Depreciation rate of R&D capital; Japanese firms; Panel data; Q model of investment; Multiple capital assets; Instrumental variable. (search for similar items in EconPapers)
Date: 2016
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