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• W3136019377 abstract "This paper proposes new tests for financing constraints on R&D investment by directly examining the role played by working capital in smoothing the R&D expenditures of firms listed on the Tel Aviv stock exchange. It emphasizes the importance of working capital, not only for use but also as a source of funds. The findings offer new evidence for why levels of liquidity are important for R&D-intensive firms. Working capital alleviates the effects of transient finance shocks on the level of R&D, thereby averting the high adjustment costs that accompany changes in R&D." @default.
• W3136019377 created "2021-03-29" @default.
• W3136019377 creator A5063840138 @default.
• W3136019377 date "2021-01-01" @default.
• W3136019377 modified "2023-10-17" @default.
• W3136019377 title "Working capital and R&D smoothing: evidence from the Tel Aviv stock exchange" @default.
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• W3136019377 doi "https://doi.org/10.1080/15140326.2021.1877599" @default.
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