NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Back to Basics: Why do Firms Invest in Research?

Ashish Arora, Sharon Belenzon, Lia Sheer

NBER Working Paper No. 23187
Issued in February 2017, Revised in November 2017

---- Acknowledgments ----

We would like to thank Wes Cohen and Andrea Patacconi for helpful comments and suggestions. We thank the Fuqua School of Business, Duke University, for research support. All remaining errors are ours. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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