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R&D Expenditure and the Role of Scientists

Author

Listed:
  • Białek-Jaworska Anna

    (University of Warsaw, Warsaw, Poland)

  • Dobroszek Justyna

    (University of Lodz, Lodz, Poland)

Abstract

An effective knowledge-based economy requires regular cooperation between science and business. This is possible thanks to enterprises that create and implement innovations The paper focuses on the recognition of R&D expenditure. This aims to verify if firms with a scientist on their board are more likely to invest in the R&D. We conduct a tobit panel analysis of over 18,000 Polish private firms combined with data on patents and scientists employed at universities. The findings show that firms with scientists on the supervisory board are likely to invest more in R&D. However, these investment in R&D of firms with a scientist on the board are financial constraint. Their growth depends on access to finance. Therefore, institutions in Poland should support and promote cooperation between science and business, aiming for the realization of the implementation research. This approach requires updated regulations in the accounting area relating to the recognition of R&D inputs and outcomes.

Suggested Citation

  • Białek-Jaworska Anna & Dobroszek Justyna, 2019. "R&D Expenditure and the Role of Scientists," Financial Sciences. Nauki o Finansach, Sciendo, vol. 24(2), pages 1-16, June.
    • Handle: RePEc:vrs:finsci:v:24:y:2019:i:2:p:1-16:n:1
    DOI: 10.15611/fins.2019.2.01
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    References listed on IDEAS

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    More about this item

    Keywords

    R&D; dynamic entrepreneurship; academic entrepreneurship; innovation; scientist; family business;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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