Determining the research and development (R&D) boundaries of the firm as the choicebetween internal, collaborative and external technology acquisition has since long been amajor challenge for firms to secure a continuous stream of innovative products or processes.While research on R&D...

We analyze financial constraints for R&D, where we account for heterogeneityamong investments which has been neglected in previous literature. According toeconomic theory, investments should be distinguished by their degree ofuncertainty, e.g. routine R&D versus cutting-edge R&D. Financial...

This paper investigates whether the size of multinationals’ real investments ina high-tax country is affected by profit shifting activities. A simple theoretical analysisshows that tax rates abroad impact the cost of capital in the presence of profit shiftingactivities of multinational...