Browsing by Subject "R&D investment"
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R&D Activity and Financing Constraints: Evidence from Turkey
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Publisher and Date:(Savez Ekonomista Vojvodine, 2020)We analyze the relationship between financing constraints and firms' R&D activity using a rich and comprehensive firm-level balance sheet and income statement data set of manufacturing firms in Turkey for the period 1996 to 2013. Using a firm-specific, time-varying financing constraints index, we find that financing constraints have a negative relationship with firms' R&D activity, after controlling for other determinants of R&D such as firm size, capital intensity and export market participation.