Foreign Direct Investment in R&amp;D and Exchange Rate Uncertainty

Becker, Bettina; Hall, Stephen G.

doi:10.1007/s11079-007-9075-z

Cited by 13 publications

(10 citation statements)

References 35 publications

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“…Such an approach has typically been employed in investment studies (Mairesse et al 1999;Bond and Van Reenan 2007) and has also been used in studies of R&D (Bond et al 2003;Becker and Hall 2009). It has the advantage of making it more likely that the dependent variable is stationary, as investment is normally thought of as integrated of order one.…”

Section: Model Specificationmentioning

confidence: 99%

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Research and development, cash flow, agency and governance: UK large companies

Driver¹,

Guedes²

2012

Research Policy

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Section: Model Specificationmentioning

confidence: 99%

“…Other industry-level evidence for the UK confirms that output or value added is the main explanatory variable for R&D (Vecchi et al 2007;Becker and Hall 2009). …”

mentioning

confidence: 93%

Research and development, cash flow, agency and governance: UK large companies

Driver¹,

Guedes²

2012

Research Policy

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“…Value-added, firm growth, and R&D investment. Output or value-added is the main explanatory variable for R&D [40]. As an important outcome of the proactive management of R&D expenditures [41], growth is the primary goal of firms and can indicate market valuation and investment opportunities [42,43].…”

Section: Corporate Financial Capability Impacting Randd Investmentmentioning

confidence: 99%

Corporate Governance Structure, Financial Capability, and the R&D Intensity in Chinese Sports Sector: Evidence from Listed Sports Companies

2019

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Innovations are the foundation of an enterprise's sustainable development, which is particularly important for sports firms in an evolving Chinese sport industrial environment. Analyzing publicly-listed sports firms on The New Third Board (NTB) in China, this study examined the influence of corporate financial capability and corporate governance structure on firms' R&D intensity through a series of multiple regression models. Findings revealed that corporate financial capability is an important determinant of R&D intensity, and corporate governance structure has a small but meaningful effect on R&D intensity. Specifically, for Chinese sports firms, several financial capability indicators, such as return on equity, accounts receivable turnover, assets turnover, and profit growth rate, have positive relationships with R&D intensity; however, other financial capability indicators, such as leverage and cash flow, have negative relationships with R&D intensity. Limited evidence was found to support the notion that corporate governance significantly influences R&D intensity, although sports firms with good governance mechanisms are more likely to increase the positive effects of financial capabilities on R&D intensity while decreasing the negative effects. Discussions were centered on planning and executing R&D activities in sports companies.

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“…Since there are several surveys on this literature (Pain and van Welsum 2003, Kiyota and Urata 2004, Bloningen 2005, Buch and Kleinert 2008, Becker and Hall 2009), our review is very brief and summarizes only the main arguments and findings.…”

Section: The Literature On Fdi and Exchange Ratesmentioning

confidence: 99%

Foreign Direct Investment and Exchange Rate Regimes

Busse

Hefeker

Nelgen³

2010

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu Terms of use: Documents in AbstractThe paper uses a comprehensive data set with bilateral direct investment flows and establishes the influence of the de-facto exchange rate regime for FDI flows. We find a strong and significant effect from fixed rates on bilateral FDI flows in developed economies, but no significant effect for developing countries. There is thus no general and uniform impact of stable exchange rates on FDI. We provide several possible explanations for this difference.

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Foreign Direct Investment in R&D and Exchange Rate Uncertainty

Abstract: Exchange rates, Uncertainty, R&D, FDI, Panel estimation, F31,

Cited by 13 publications

References 35 publications

Research and development, cash flow, agency and governance: UK large companies

Research and development, cash flow, agency and governance: UK large companies

Corporate Governance Structure, Financial Capability, and the R&D Intensity in Chinese Sports Sector: Evidence from Listed Sports Companies

Foreign Direct Investment and Exchange Rate Regimes

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