Types de R&D. Quel impact sur la dette bancaire des entreprises ?

This paper provides a better understanding of the negative impact of R&D-to-sales ratio on bank debt financing by exploring whether it can be related to the type of R&D firms are involved in. Using a large panel of French firms, we show that this negative impact is mainly due to the more risky activities: Internal rather than external R&D and research activities rather than experimental development. Classification JEL : G32, O32, D21, C23

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Year of publication:	2012
Authors:	Belin, Jean ; Cavaco, Sandra ; Guille, Marianne
Published in:	Revue économique. - Presses de Sciences-Po. - Vol. 63.2012, 5, p. 833-847
Publisher:	Presses de Sciences-Po

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Extent:	application/pdf text/html
Type of publication:	Article
Classification:	G32 - Financing Policy; Capital and Ownership Structure ; O32 - Management of Technological Innovation and R&D ; D21 - Firm Behavior ; C23 - Models with Panel Data
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011187929