Arvanitis, Spyridon; Wörter, Martin - 2011
market conditions (for example, price competition) and firm characteristics (for example, type of R&D partners) that enable a … firm to have a procyclical, anti-cyclical or non-systematic R&D investment behaviour. New elements of our analysis are: (a …) the identification in our data of the above three main types of R&D behaviour with respect to the fluctuation of overall …