Details
Originalsprache | Englisch |
---|---|
Aufsatznummer | 106722 |
Fachzeitschrift | Finance research letters |
Jahrgang | 74 |
Frühes Online-Datum | 30 Dez. 2024 |
Publikationsstatus | Elektronisch veröffentlicht (E-Pub) - 30 Dez. 2024 |
Abstract
This paper examines intensity- and speed-based differences in the short-term relationship between R&D investment and corporate growth of over 2,000 high-tech firms from 2000 to 2020 using semiparametric quantile models. Although R&D investment is often assumed to be a candidate supporting the recovery of declining firms, a positive impact has yet only been revealed for high-growth firms. This study finds that this effect is only positive at high intensities, roughly above a 50 % R&D-to-sales ratio, and that the threshold is higher for declining firms, at about 130 %. These findings contribute to the understanding of the relationship and are valuable for managers as they consider R&D investments to enhance corporate growth.
ASJC Scopus Sachgebiete
- Volkswirtschaftslehre, Ökonometrie und Finanzen (insg.)
- Finanzwesen
Ziele für nachhaltige Entwicklung
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in: Finance research letters, Jahrgang 74, 106722, 03.2025.
Publikation: Beitrag in Fachzeitschrift › Artikel › Forschung › Peer-Review
}
TY - JOUR
T1 - Unraveling the impact of R&D investment on corporate growth
T2 - Empirical insights on intensity- and growth rate-based differences
AU - Morina, Drini
AU - Lucas, Henning
AU - Heiden, Stefanie
N1 - Publisher Copyright: © 2024
PY - 2024/12/30
Y1 - 2024/12/30
N2 - This paper examines intensity- and speed-based differences in the short-term relationship between R&D investment and corporate growth of over 2,000 high-tech firms from 2000 to 2020 using semiparametric quantile models. Although R&D investment is often assumed to be a candidate supporting the recovery of declining firms, a positive impact has yet only been revealed for high-growth firms. This study finds that this effect is only positive at high intensities, roughly above a 50 % R&D-to-sales ratio, and that the threshold is higher for declining firms, at about 130 %. These findings contribute to the understanding of the relationship and are valuable for managers as they consider R&D investments to enhance corporate growth.
AB - This paper examines intensity- and speed-based differences in the short-term relationship between R&D investment and corporate growth of over 2,000 high-tech firms from 2000 to 2020 using semiparametric quantile models. Although R&D investment is often assumed to be a candidate supporting the recovery of declining firms, a positive impact has yet only been revealed for high-growth firms. This study finds that this effect is only positive at high intensities, roughly above a 50 % R&D-to-sales ratio, and that the threshold is higher for declining firms, at about 130 %. These findings contribute to the understanding of the relationship and are valuable for managers as they consider R&D investments to enhance corporate growth.
KW - Corporate growth
KW - R&D effects
KW - Semiparametric quantile regression
UR - http://www.scopus.com/inward/record.url?scp=85213835934&partnerID=8YFLogxK
U2 - 10.1016/j.frl.2024.106722
DO - 10.1016/j.frl.2024.106722
M3 - Article
AN - SCOPUS:85213835934
VL - 74
JO - Finance research letters
JF - Finance research letters
SN - 1544-6123
M1 - 106722
ER -