is that the creation of intangibles is largely achieved by human capital investment and requires lower upfront outlays … dilution. Our empirical evidence confirms that firms with higher intangible investment have lower upfront investment needs …. They make similar payouts as tangible investment firms, suggesting they are not on average more financially constrained …

The analysis in this paper shows that unpredictable variations in economic productivity may have a positive or negative …. Empirical studies concerning these two factors indicate that unpredictable variations in economic productivity have a negative …

How does risk or uncertainty in the productivity of research affect the growth rate of the economy? To answer this …&D from profit-maximizing firms. The uncertainty arises from the productivity of these investments in R&D. The main result of … this analysis is that the relationship between long-run growth and uncertainty (on the productivity of knowledge creation …

Total factor productivity of twenty OECD countries for a recent period (1971-2002) is explained using six different …