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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