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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.
Chu, H.P.
Sher, P.J.
Chiu, Y.C.
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.
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.
ISSN: 0003-6846
DOI: 10.1080/00036840701604487
Appears in Collections:期刊論文

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