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This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from...
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effort and performance. Using data on over 11,000 industrial scientists and engineers (SESTAT 2003), we find that individuals … to benefit innovation more than extrinsic motives such as pay …
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outcomes. The UK, Sweden, Canada and the US obtain the highest management scores closely followed by Germany, with a gap to …
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environment provides a plausible framework for understanding real dollar--DM exchange rate dynamics from 1976 to 2003. The least …
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