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|標題:||R&D intensity, firm performance and the identification of the threshold: fresh evidence from the panel threshold regression model||作者:||Yeh, M.L.
|關鍵字:||lag-length selection;market value;manufacturing firms;nuisance;parameter;pharmaceutical-industry;development investment;productivity;growth;export performance;d expenditures;technology||Project:||Applied Economics||期刊/報告no：:||Applied Economics, Volume 42, Issue 3, Page(s) 389-401.||摘要:||
This article tests whether there is an optimal level of research and development (R&D) intensity at which point a firm is able to maximize its performance. An advanced panel threshold regression model is employed to investigate the panel threshold effect of R&D intensity on firm performance among publicly traded Taiwan information technology and electronic firms. The results confirm that a single-threshold effect does exist and show an inverted-U correlation between R&D intensity and firm performance. This article demonstrates that it is possible to identify the definitive level beyond which a further increase in R&D expenditure does not yield proportional rewards. Some important policy implications emerge from the findings.
|Appears in Collections:||期刊論文|
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