Foreign Capital, Credit Constraints and Continuity of Firms’ R&D

Pilar Beneito, Maria Engracia Rochina-Barrachina and Amparo Sanchis-Llopis
Additional contact information
Maria Engracia Rochina-Barrachina: Departamento de Estructura Económica. Facultad de Economia, Avda-Tarongers, s/n, 46022- Valencia, SPAIN.
Authors registered in the RePEc Author Service: Maria Engracia Rochina Barrachina

No 1506, Working Papers from Department of Applied Economics II, Universidad de Valencia

Abstract: Using data for Spanish manufacturing firms in the period 1990-2006, we show that firms with foreign capital are significantly less likely to stop already initiated R&D projects and also more likely to sustain R&D investment when facing credit constraints. These results are robust to positive selection of target firms by foreign companies and to firms’ fixed effects.

Keywords: foreign capital; credit constraints; R&D investment; interruptions in R&D. (search for similar items in EconPapers)
JEL-codes: C1 L6 O3 (search for similar items in EconPapers)
Date: 2015-06
New Economics Papers: this item is included in nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://repecsrv.uv.es/paper/RePEc/pdf/eec_1506.pdf First version, 2015 (application/pdf)

Related works:
Journal Article: Foreign capital, credit constraints and continuity of firms' R&D (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eec:wpaper:1506

Access Statistics for this paper

More papers in Working Papers from Department of Applied Economics II, Universidad de Valencia Contact information at EDIRC.
Bibliographic data for series maintained by Vicente Esteve ().