Collaborative R&D as a strategy to attenuate financing constraints


Czarnitzki, Dirk ; Hottenrott, Hanna


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URL: https://ub-madoc.bib.uni-mannheim.de/32496
URN: urn:nbn:de:bsz:180-madoc-324963
Document Type: Working paper
Year of publication: 2012
The title of a journal, publication series: ZEW Discussion Papers
Volume: 12-049
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: O31 , O32 , O38,
Subject headings (SWD): Industrielle Forschung , Forschungskooperation , Forschungsfinanzierung , Verschuldungsrestriktion , Schätzung , Flandern , Belgien
Keywords (English): Collaborative research , industry-science links , research and development , liquidity constraints , innovation policy
Abstract: The ability of firms to establish R&D collaborations that combine resources, exploit complementary know-how, and internalize R&D externalities has been shown to be of high importance for the successful creation and implementation of new knowledge. We argue in this article that collaborative R&D may not only be beneficial in terms of appropriability of returns to R&D investment, access to the partner’s knowledge base and the exploitation of scale and scope in R&D, but that it may also be a strategy to cope with financing constraints for R&D. Studying panel data we show that collaboration with science alleviates liquidity constraints for research. Horizontal collaboration reduces liquidity constraints for both research as well as R and D. Vertical collaboration has no such effects.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Czarnitzki, Dirk ; Hottenrott, Hanna (2012) Collaborative R&D as a strategy to attenuate financing constraints. Open Access ZEW Discussion Papers Mannheim 12-049 [Working paper]
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