The persistency and volatility of the firm R&D investment: Revisited from the perspective of technological capability
Chulwoo Baek () and
Jeong-Dong Lee ()
Research Policy, 2017, vol. 46, issue 9, 1570-1579
The persistency and volatility of firm R&D investment has been a popular research subject for the R&D management field; however, previous research has found mixed evidence concerning the persistency and volatility of firm R&D investment. This paper empirically reveals the reason for the conflicting arguments among researchers by considering each firm’s technological capability. The influence of technological capability on R&D investment differs depending on positive and negative shocks, and this influence can be the key to understanding heterogeneous R&D behavior across firms.
Keywords: R&D investment; R&D persistency; R&D volatility; Technological capability (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:46:y:2017:i:9:p:1570-1579
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