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In this paper we empirically test whether public R&D subsidies crowd out private R&D investment in Flanders and Germany …, using firm level data from the Flemish and German part of the Community Innovation survey (CIS III and IV). Both the non …
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On the basis of accounting and market data for firms and groups listed on German stock exchanges between 1997 and 2003, we show that the value relevance of R&D information under German accounting standards can be superior to that provided by US-GAAP and IAS. The results, obtained while...
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