DOAJ Open Access 2021

Working capital and R&D smoothing: evidence from the Tel Aviv stock exchange

Ahmad Alkhataybeh

Lihat Sumber DOI

Abstrak

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.

Topik & Kata Kunci

Economic growth, development, planning Economic history and conditions

Penulis (1)

Ahmad Alkhataybeh

Format Sitasi

APA MLA BibTeX

Alkhataybeh, A. (2021). Working capital and R&D smoothing: evidence from the Tel Aviv stock exchange. https://doi.org/10.1080/15140326.2021.1877599

Akses Cepat

Lihat di Sumber doi.org/10.1080/15140326.2021.1877599

Informasi Jurnal

Tahun Terbit: 2021
Sumber Database: DOAJ
DOI: 10.1080/15140326.2021.1877599
Akses: Open Access ✓