Partial adjustment toward target R & D intensity

  title={Partial adjustment toward target R & D intensity},
  author={Yan Chen},
Existing research assumes that once firms have determined their target R&D intensity, they can adjust instantaneously and fully to their target R&D intensity, regardless of their past R&D intensity. In this study, we draw on the partial adjustment framework to examine the dynamics of firms’ adjustment toward their target R&D intensity. We find that firms… CONTINUE READING