Financing R&D in Mature Companies: An Empirical Analysis, Science, Technology and the Economy Program (STE) – Working Papers Series STE-WP-10
R&D intensive firms are often described as (1) relying mainly on equity financing; (2) investing primarily in intangible assets; (3) exhibiting a high market to book ratio (a high Tobin’s q); and (4) as being young and fast growing. We put these commonplace characterizations to systematic empirical tests. For our sample of Israeli manufacturing firms […]
A first look at Internet Business Methods Patents, Science, Technology and the Economy Program (STE) – Working Papers Series STE-WP-12
Despite the concerns about the proliferation of software and Internet business patents, there has been no systematic empirical research on Internet patents. In this project, I take a first-look at Internet patents. I examine whether there are systematic differences between Internet business method patents and other software patents in the same patent classes.
Is Venture Capital Special? Empirical Evidence from a Government Initiated Venture Capital Market, Science, Technology and the Economy Program (STE) – Working Papers Series STE-WP-9
The financing extended by venture capital funds is examined in this paper, using a unique database that includes information about all the firms in the portfolio of all the Israeli venture capital funds in 1997-2000, and data on a control group of firms that were not backed by venture capital funds but were supported by […]
Conceiving New Industrial Systems: The Different Emergence Paths of the High-Technology Industry in Israel and Ireland, Science, Technology and the Economy Program (STE) – Working Papers Series STE-WP-11
In the last decade, both Israel and Ireland have been on the forefront of a successful double revolution. In the international arena, the two small states have been the hotbeds of new technology based firms (NTBF) that establish themselves in global markets in the area of software and information technology, making the two states successful […]
The Military as a Public Space – The Role of the IDF in the Israeli Software Innovation System, Science, Technology and the Economy Program (STE) – Working Papers Series STE-WP-13
This paper focuses on the role played by the Israeli military (IDF) in creating and sustaining the highly innovative Israeli software industry. The IDF is often credited with a large role in the creation and sustained success of the Israeli high-tech industry. The paper analyze the activities and history of the IDF’s central computer unit, […]
Quantitative Growth Effects of Subsidies in a Search Theoretic R&D Modal, Science, Technology and the Economy Program (STE) – Working Papers Series STE-WP-16-2002
Should government subsidize R&D and does it matter how these subsidies are allocated? We examine these questions in a dynamic model where R&D is described as sequential sampling from a distribution of new ideas. Successful discoveries affect future available resources and incentives for further R&D. Consequently, there may be under-investment in R&D. We study the […]
The Determination of Success of R&D Projects: Evidence from American-Israeli Research Alliances, Science, Technology and the Economy Program STE-WP-8-2001
A basic premise of Israeli R&D support programs has been the principle of neutrality – all eligible projects are funded. With a binding budget constraint, however, the government has to select the projects it funds and thus to depart from neutrality. An optimal departure would favor those projects that have less of a chance to […]
Cooperation and Competition in R&D with Uncertainty & Spillovers, Science, Technology and the Economy Program STE-WP-6
In a general setting with uncertainty and spillovers in R&D activity, we consider the incentive to cooperate among firms at any or all of the following three stages. Firms can jointly agree on the level of R&D expenditures, they can set up joint research facilities, and/or they can engage in an information sharing agreements, by […]
Defense R&D and Economic Growth in Israel: A Research Agenda, Science, Technology and the Economy Program STE-WP-4
When evaluating Israel’s high-tech capabilities and impressive economic achievements since inception, it is difficult not to recognize the important role played by defense and military developments. In particular, defense-related R&D had significant impacts on, as much as it was aided by, Israel’s industrial sector, higher educational system in science and engineering, research community, and the […]
R&D, Firm Size and Innovation: An Empirical Analysis, SNI R&D Policy Papers Series
Investment in R&D spawns innovations, which in turn foster economic growth. In recent years, researchers have become increasingly aware of the role of industrial innovation in the rate of regional development and economic growth. In order to innovate, firms must invest in R&D (in-house or out-sourcing), and engage highly skilled labor that is able to […]
