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An Empirical investigation of the determinants of R&D cooperation: an application of the inverse hyperbolic sine transformation

Carboni, Oliviero Antonio (2012) An Empirical investigation of the determinants of R&D cooperation: an application of the inverse hyperbolic sine transformation. Research in Economics, Vol. 66 (2), p. 131-141. ISSN 1090-9443. eISSN 1090-9451. Article.

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DOI: 10.1016/j.rie.2012.01.002

Abstract

This paper applies the Inverse Hyperbolic Sine (IHS) transformation to explore the variables that determine a firm’s R&D collaborative expenditure. The IHS specification is used to overcome the inconsistencies deriving from non-normality of error terms which are typical in censored data. This represents a novelty in R&D studies. The sample employed refers to 1231 Italian firms where the dependent variable under investigation is strongly skewed by the zero values and by the extreme observations. The results show that standard errors are smaller in the IHS model than in the more common logarithmic one. The analysis also shows that size and public grants are effective in determining the level of cooperative R&D expenditure. Absorptive capacity, outsourcing inputs or services externally and the industry, also play an important role.

Item Type:Article
ID Code:8581
Status:Published
Refereed:Yes
Uncontrolled Keywords:Truncated and censored models, inverse hyperbolic sine transformation, R&D cooperation, firm behaviour
Subjects:Area 13 - Scienze economiche e statistiche > SECS-P/01 Economia politica
Divisions:002 Altri enti e centri di ricerca del Nord Sardegna > CRENoS-Centro Ricerche Economiche Nord Sud, Università di Cagliari e Università di Sassari
001 Università di Sassari > 01-a Nuovi Dipartimenti dal 2012 > Scienze economiche e aziendali
Publisher:Elsevier
ISSN:1090-9443
eISSN:1090-9451
Copyright Holders:© 2012 University of Venice. Published by Elsevier Ltd.
Deposited On:01 Feb 2013 09:03

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