Hosono, Kaoru; Tomiyama, Masayo; Miyagawa, Tsutomu - In: Economics of Innovation and New Technology 13 (2004) 2, pp. 141-164
This paper investigates the effects of the ownership structure on the R&D intensity. Using the Japanese machine-manufacturing firm data from 1987 till 1998, we first found that the effects of R&D on stock market valuation and TFP growth were significantly positive in the latter half of the...
