This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in … investment or R&D. In identical specifications for British firms, cash flow is informative about investment, although not about … the level of R&D spending conditional on the R&D participation decision. In the UK, we also find that investment is less …

This paper analyses a dynamic game of investment in R&D or advertising, where current investments change future market … conditions. It investigates whether underinvestment can be supported in equilibrium by the threat of escalation in investment … investment in equilibrium. Furthermore, potential entry is introduced into the model so as to address the issues of market …

This paper analyzes differences in R&D spending and in the impact of R&D on productivity between German and UK firms …

Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial … constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the … incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the …

Over the period since 1970, Britain has improved its relative productivity performance, but there remains a significant … gap in market sector productivity between Britain and both Continental Europe and the United States. Much of the gap … due to a weakness in technological innovation despite a high quality science base. This includes comparatively low and …

effect which becomes more pronounced when we account for the endogeneity of innovation. This is the case for three different … count measures of innovation – a global measure of innovation and measures for labour innovations and capital innovations …

This paper examines the relative influence of domestic and foreign renewable energy policies on innovation activity in …-pull policies (e.g., guaranteed tariffs, investment and production tax credits), as reflected by wind power capacities installed … new capacities by increasing their innovation effort. However, the effect on innovation of the marginal wind turbine …

various links between urban cultural diversity and innovation, at individual, firm and urban level. This paper uses a sample …