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An Empirical Study on the Adjustment of R&D Investment

Research Project

Project/Area Number 19K01643
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07040:Economic policy-related
Research InstitutionMeijo University (2023)
Tezukayama University (2019-2022)

Principal Investigator

Kani Masayo  名城大学, 経済学部, 教授 (20509187)

Project Period (FY) 2019-04-01 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2021: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2020: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2019: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Keywords研究開発投資 / 調整費用 / イノベーション戦略 / 研究開発 / イノベーション
Outline of Research at the Start

研究開発投資による技術知識の蓄積は経済成長の源泉となるため、投資の中断や縮小が生じると、将来にわたって経済成長に影響を及ぼす。企業における研究開発投資の調整に関しては、人件費の占める割合が高いことから調整費用が高い投資と考えられている。しかし、企業のイノベーション戦略は多様化しており、戦略の違いによって研究開発費の内訳も異なるので、研究開発投資の調整過程は企業戦略の違いを反映すると考えられる。本研究では、業種や企業属性・戦略を考慮して現実的に妥当な研究開発投資の調整過程を実証的に検証する。

Outline of Final Research Achievements

This study empirically examined the adjustment of firms' R&D investment, considering the heterogeneity of firms' characteristics and strategies. First, focusing on the adjustment associated with changes in financing conditions, we examined how R&D investment is influenced by changes in financing (i.e., the sensitivity of R&D investment to financing) and how the sensitivity varies with uncertainty. Second, I analyzed the persistence of R&D investment. The results showed that although there is a very strong persistence due to R&D smoothing, the degree of persistence can differ according to R&D strategies.

Academic Significance and Societal Importance of the Research Achievements

企業がどのように研究開発投資の調整を行うかについて理解することは、経済環境の変化が研究開発投資、延いては経済成長に与える影響を解明する一助となり、大きな意義があると考えられる。特に、近年のイノベーション戦略の進展を考えると、企業属性や戦略の異質性を考慮して研究開発投資を議論する必要がある。本研究では、企業属性や戦略を考慮して現実的に妥当な研究開発投資の調整過程はどのようなものであるかを実証的に検証した。

Report

(6 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • 2020 Research-status Report
  • 2019 Research-status Report
  • Research Products

    (6 results)

All 2024 2023 2022 2021 2019

All Journal Article (3 results) (of which Open Access: 2 results,  Peer Reviewed: 1 results) Presentation (3 results) (of which Int'l Joint Research: 2 results)

  • [Journal Article] 研究開発投資の持続性―日本企業についての実証研究―2024

    • Author(s)
      蟹雅代
    • Journal Title

      名城大学経済学部ディスカッション・ペーパー

      Volume: #0018 Pages: 1-19

    • Related Report
      2023 Annual Research Report
    • Open Access
  • [Journal Article] “The Patent Paradox Revisited” in Empirical Studies on Patenting2022

    • Author(s)
      蟹 雅代
    • Journal Title

      The Journal of Science Policy and Research Management

      Volume: 37 Issue: 1 Pages: 53-57

    • DOI

      10.20801/jsrpim.37.1_53

    • ISSN
      0914-7020, 2432-7123
    • Year and Date
      2022-03-31
    • Related Report
      2021 Research-status Report
    • Peer Reviewed
  • [Journal Article] The Sensitivity Effect of Uncertainty on Corporate Investment through Internal and External Financing: Evidence on Cautionary Channel from Japanese Manufacturing Firms2021

    • Author(s)
      Masayo Kani and Kiyotaka Nakashima
    • Journal Title

      Tezukayama RIEB Discussion Paper Series No.31

      Volume: -

    • Related Report
      2020 Research-status Report
    • Open Access
  • [Presentation] Chief Intellectual Property Officers: An Exploratory Analysis of Their Presence and Effects2023

    • Author(s)
      蟹雅代
    • Organizer
      2023 INFORMS Annual Meeting
    • Related Report
      2023 Annual Research Report
    • Int'l Joint Research
  • [Presentation] The Dynamic Effect of Uncertainty on Corporate Investment through Internal and External Financing2019

    • Author(s)
      蟹雅代
    • Organizer
      日本ファイナンス学会
    • Related Report
      2019 Research-status Report
  • [Presentation] The Dynamic Effect of Uncertainty on Corporate Investment through Internal and External Financing2019

    • Author(s)
      蟹雅代
    • Organizer
      2019 Paris Financial Management Conference
    • Related Report
      2019 Research-status Report
    • Int'l Joint Research

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Published: 2019-04-18   Modified: 2025-01-30  

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