Is R&D Always Beneficial?

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Title:	Is R&D Always Beneficial?
Authors:	Chang, Hsu-ling;Su, Chi-wei
Contributors:	淡江大學國際企業學系
Keywords:	R&D growth;Gibrat's Law;panel unit root test;panel threshold regression model
Date:	2010-03
Issue Date:	2011-07-28 00:54:51 (UTC+8)
Publisher:	Singapore: World Scientific Publishing Co. Pte. Ltd.
Abstract:	This study sets out with the aim of determining whether there is such a thing as an optimal level of research and development (R&D) intensity within which a firm can effectively maximize its sales growth ratio. We adopt an advanced panel threshold regression model to examine the relationship between R&D intensity and the growth rate in sales based upon data on firms within the electronics industry in Taiwan. The results demonstrate that R&D intensity has a positive impact on sales growth when the level of such R&D intensity is below the threshold value, and a negative impact when the level of R&D intensity is above the threshold value.
Relation:	Review of Pacific Basin Financial Markets and Policies 13(1), pp.157-174
DOI:	10.1142/S0219091510001809
Appears in Collections:	[Graduate Institute & Department of International Business] Journal Article

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