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The persistency and volatility of the firm R&D investment: Revisited from the perspective of technological capability

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  • Kang, Taewon
  • Baek, Chulwoo
  • Lee, Jeong-Dong

Abstract

The persistency and volatility of firm R&D investment has been a popular research subject for the R&D management field; however, previous research has found mixed evidence concerning the persistency and volatility of firm R&D investment. This paper empirically reveals the reason for the conflicting arguments among researchers by considering each firm’s technological capability. The influence of technological capability on R&D investment differs depending on positive and negative shocks, and this influence can be the key to understanding heterogeneous R&D behavior across firms.

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  • Kang, Taewon & Baek, Chulwoo & Lee, Jeong-Dong, 2017. "The persistency and volatility of the firm R&D investment: Revisited from the perspective of technological capability," Research Policy, Elsevier, vol. 46(9), pages 1570-1579.
    • Handle: RePEc:eee:respol:v:46:y:2017:i:9:p:1570-1579
    DOI: 10.1016/j.respol.2017.07.006
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