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R&D as an investment in knowledge based capital

Albert Link and Christopher A. Swann ()
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Christopher A. Swann: University of North Carolina at Greensboro

Economia e Politica Industriale: Journal of Industrial and Business Economics, 2016, vol. 43, issue 1, 11-24

Abstract: Abstract It is well documented that knowledge based capital (KBC) is a driver of economic growth and development and that knowledge acquired through scientific research and development (R&D) is one important component of KBC. In this paper we examine the importance of R&D to a firm for exploring new business opportunities using information from the AEGIS database. We find that, among other things, human capital measured in terms of the educational background of the firm’s founders is a positive and statistically significant covariate with the importance of R&D. We conclude the paper with public policy recommendations for enhancing the educational component of the human capital resource base of firms.

Keywords: Entrepreneurship; R&D; Knowledge based capital; Human capital; Technology; Innovation; AEGIS (search for similar items in EconPapers)
JEL-codes: L26 L25 O31 O33 (search for similar items in EconPapers)
Date: 2016
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Journal Article: R&D as an investment in knowledge based capital (2016) Downloads
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Economia e Politica Industriale: Journal of Industrial and Business Economics is currently edited by C. Cambini, M.G. Colombo, L. Piscitello, L. Rondi and A. Zanfei

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