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- W3121194409 abstract "This paper investigates empirically rm investment behavior in research and development (R&D). Firms make investments in R&D in order to produce innovations. These innovations in turn improve the rm s future productivity level, pro tability and incentives to invest in R&D. Using German rm-level data from the manufacturing sector, we estimate a dynamic, structural model of the rm s choice to invest in R&D and quantify the bene t and cost of engaging in R&D. We nd that among rms that engage in R&D, process and product innovations create a signi cant improvement in their productivity. The cost for performing R&D differs across rms based on their size and R&D history. We compute the bene ts of R&D investment to the rm and nd that by taking the dynamic nature of the investment into account the real return to R&D is several times higher than the one time gain in rm productivity." @default.
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- W3121194409 date "2013-01-01" @default.
- W3121194409 modified "2023-09-27" @default.
- W3121194409 title "Firm R&D, Innovation, and Productivity in German Industry" @default.
- W3121194409 hasPublicationYear "2013" @default.
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