Inter-organizational collaboration and financing constraints for R&D
Dirk Czarnitzki and
Hanna Hottenrott ()
Economics Letters, 2017, vol. 161, issue C, 15-18
R&D collaborations that combine resources and exploit complementary expertise contribute to the successful creation and implementation of new knowledge. Collaborative R&D may further be a way in which firms cope with financing constraints. Based on panel data for a large sample of R&D-active firms, findings provide empirical support for this hypothesis. Results show that collaborating firms rely less on internal funding for research than others even when accounting for firms’ selection into collaborations.
Keywords: Research and development; Liquidity constraints; Collaborative research; Industry-science links; Innovation policy (search for similar items in EconPapers)
JEL-codes: O31 O32 O38 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:161:y:2017:i:c:p:15-18
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