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2020, vol. 67, br. 4, str. 557-571
R&D activity and financing constraints: Evidence from Turkey
(naslov ne postoji na srpskom)
aKeene State College, Turkey
bKadir Has University, Turkey
cCentral Bank of the Republic of Turkey, Turkey

e-adresaagezici@keene.edu, ozgur.orhangazi@khas.edu.tr, cihan.yalcin@tcmb.gov.tr
Projekat:
Özgür Orhangazi would like to acknowledge support by Kadir Has Scientific Research Grant, No: 2016-BAP-03

Ključne reči: R&D investment; Financing constraint; Credit constraint; Internal funds; Cash flow; Turkey
Sažetak
(ne postoji na srpskom)
We analyze the relationship between financing constraints and firms' R&D activity using a rich and comprehensive firm-level balance sheet and income statement data set of manufacturing firms in Turkey for the period 1996 to 2013. Using a firm-specific, time-varying financing constraints index, we find that financing constraints have a negative relationship with firms' R&D activity, after controlling for other determinants of R&D such as firm size, capital intensity and export market participation.
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O članku

jezik rada: engleski
vrsta rada: izvorni naučni članak
DOI: 10.2298/PAN170420011G
primljen: 20.04.2017.
prihvaćen: 14.04.2018.
objavljen u SCIndeksu: 25.11.2020.
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