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| Tekijä: | Billings, B. A. Glazunov, S. N. Houston, M. |
| Otsikko: | The role of taxes in corporate research and development spending |
| Lehti: | R. and D. Management
2001 : OCT, VOL. 31:4, p. 465-478 |
| Asiasana: | TAXATION R&D R&D COSTS |
| Kieli: | eng |
| Tiivistelmä: | This study replicates prior research regarding research and development (R&D) spending by sampling R&D spending for a cross-section of firms in non-service related industries. Compustat data for 231 firms from 1992 to 1998 are used to test whether the US Federal tax credit for R&D meaningfully influenced R&D spending of the sampled firms. Firms' (1) effective rate of R&D tax credit, (2) rate of decay in R&D capital for firms' primary industry affiliation, (3) financial cost of capital, and (4) marginal tax rate are used to compute firms' user-cost of capital for in-house R&D. Results show that firms that were eligible for the tax credit spent more on R&D than non-eligible firms as the user-cost of in-house R&D increased. |
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