Financing research and development (R&D) through loans is usually a costly endeavor. Information asymmetry, outcome uncertainty and low collateral value tend to increase the cost of debt. Based on a large panel of heterogeneous firms, this study shows that recipients of public R&D grants, on...

The August 15th 2013 Shanghai Academic Rankings of World Universities (ARWU) should leave policy makers wondering about whether the impressive growth experienced by 'latecomers in the industry' has moved hand-in-hand with contribution to knowledge by means of scientific publications. Against...

This paper examines national culture as an explanatory variable in the convergence versus divergence debate of R&D organisational structures. It explores the effects of globalisation on the way in which R&D processes are structured at group level. It is argued that culture may have a decisive...