Dynamic R&D Choice and the Impact of the Firm's Financial Strength
---- Acknowledgments ----
We are grateful to Eric Bartelsman, Bronwyn Hall, Jordi Jaumandreu, Hans Lööf, Florin Maican, Jacques Mairesse, Pierre Mohnen, Matilda Orth, and Hongsong Zhang for helpful comments and discussions. We thank the Center for European Economic Research (ZEW) for providing data access and research support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.