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Firm characteristics and the cyclicality of R&D investments
Industrial and Corporate Change
The aim of this study is to combine micro-aspects of firm behavior with macro aspects of business development and identify market conditions (e.g. price competition) and firm characteristics (e.g. type of R&D partners) that enable a firm to have a pro-cyclical, anti-cyclical, or non-systematic R&D investment behavior. The empirical results confirm to large extent a series of hypotheses as to innovationrelevant firm characteristics that underline the three different behavior categories and allowdoi:10.1093/icc/dtt013 fatcat:o2yy4tbya5a6zf2wzcyg2k5rnq