R&d Activity and Financing Constraints: Evidence From Turkey
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Date
2020
Journal Title
Journal ISSN
Volume Title
Publisher
Savez Ekonomista Vojvodine
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Abstract
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.
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Keywords
R&D investment, Financing constraint, Credit constraint, Internal funds, Cash flow, Turkey
Turkish CoHE Thesis Center URL
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Citation
WoS Q
Scopus Q
Q3
Source
Volume
67
Issue
4
Start Page
557
End Page
571