Types de R&D. Quel impact sur la dette bancaire des entreprises ?

Jean Belin, Sandra Cavaco and Marianne Guille

Revue économique, 2012, vol. 63, issue 5, 833-847

Abstract: This paper provides a better understanding of the negative impact of R&D-to-sales ratio on bank debt financing by exploring whether it can be related to the type of R&D firms are involved in. Using a large panel of French firms, we show that this negative impact is mainly due to the more risky activities: Internal rather than external R&D and research activities rather than experimental development. Classification JEL : G32, O32, D21, C23

JEL-codes: C23 D21 G32 O32 (search for similar items in EconPapers)
Date: 2012
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