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首页> 外文期刊>Small Business Economics >Absorptive capacity and R&D tax policy: Are in-house and external contract R&D substitutes or complements?
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Absorptive capacity and R&D tax policy: Are in-house and external contract R&D substitutes or complements?

机译：吸收能力和研发税收政策：内部和外部合同研发是替代还是补充？

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摘要

Firms fund research and development (R&D) to generate commercializable innovations and to increase their ability to understand and absorb knowledge from elsewhere. This dual role and opposed incentive structure of internal R&D create a significant question for both theory and R&D policy: Is internal R&D a complement or substitute for external R&D? We develop a model and novel technique for empirically estimating R&D substitution elasticities. We focus on bio-pharmaceutical and software industries in California and Massachusetts, where tax credit rates changed differently over time for the two types of R&D, creating a natural experiment. The effective tax prices for the two R&D types differ from type to type, firm to firm, state to state, and year to year. This allows us to examine changes in the composition of firms’ R&D budgets between in-house R&D and external basic research when the relative tax prices of each category of research change. We find evidence of a substitute relationship both for a sample comprising exclusively small firms as well as for a more general distribution of firm sizes.
机译：企业为研究与开发（R＆D）提供资金，以产生可商业化的创新，并增强其理解和吸收其他地方知识的能力。内部研发的双重作用和对立的激励结构为理论和研发政策都提出了一个重要的问题：内部研发是外部研发的补充还是替代？我们开发了一种模型和新颖的技术，用于凭经验估计R＆D替代弹性。我们专注于加利福尼亚州和马萨诸塞州的生物制药和软件行业，这两种研发类型的税收抵免率随时间而变化，从而形成了自然的实验。两种研发类型的有效税收价格因类型，公司，公司，州和年份而异。这样，当每种研究类别的相对税价发生变化时，我们就可以研究内部研发与外部基础研究之间企业研发预算组成的变化。我们发现对于仅由小公司组成的样本以及更广泛的公司规模分布而言，都有替代关系的证据。

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