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dc.contributor.authorColdbeck, B.
dc.contributor.authorOzkan, Aydin
dc.date.accessioned2017-12-15T10:00:32Z
dc.date.available2017-12-15T10:00:32Z
dc.date.issued2018-03
dc.identifier.citationColdbeck B and Ozkan A (2018) Comparison of adjustment speeds in target research and development and capital investment: What did the financial crisis of 2007 change? Journal of Business Research. 84: 1-10.en_US
dc.identifier.urihttp://hdl.handle.net/10454/14224
dc.descriptionNoen_US
dc.description.abstractThis paper investigates the dynamics of R&D and capital investment using a large sample of US firms during the period 2002–2016. A partial adjustment approach is employed with a specific focus on the impact of the financial crisis on target adjustment speed. Evidence suggests that firms have a target in both types of investment and adjust to it at varying speeds. Specifically, firms adjusted to the capital investment target faster than to R&D investment. However, firms increased the adjustment speed in R&D investment significantly during the crisis, and it has remained at similar levels during the post-crisis period. The changes in adjustment speeds can be explained by several firm-specific characteristics that are related to the ability of firms to raise internal finance.en_US
dc.language.isoenen_US
dc.relation.isreferencedbyhttps://doi.org/10.1016/j.jbusres.2017.10.042en_US
dc.subjectR&D; Capital investment; Speed of adjustment; Financial crisisen_US
dc.titleComparison of adjustment speeds in target research and development and capital investment: What did the financial crisis of 2007 change?en_US
dc.status.refereedYesen_US
dc.date.Accepted2017-10-17
dc.date.application2017-11-08
dc.typeArticleen_US
dc.type.versionNo full-text in the repositoryen_US


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