Substitution of Public for Private Research And Development Expenditures

Guy Black

The book Substitution of Public for Private Research And Development Expenditures was written by author Guy Black Here you can read free online of Substitution of Public for Private Research And Development Expenditures book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Substitution of Public for Private Research And Development Expenditures a good or bad book?

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I r. Lv : ■ 'l- . 1 . : 19 CSI 4'' o to en «-i M o • n s $ g fl "S « d o M u a> S Pk ^ s • ■p «H d S Pi cL hi) o a > 1 o o o tH u •d o a Um d to . C v o •H l4 a cd (d V u.
(0 a a> o « CJ -p hO a d V •H g ^ k) -P V O t> , * 5 3 •a 1 «« d & ^ «s « P l-l ^ o u v> s 10 w ;^^Mnin;i']i . ;•!
W «« •-« O - 20 - sales, the regression is equivalent to ^^•'■p/iCiJEi^ estimated directly from R&D funds, with a correction for size of industry measured by sales.
The significance of these results dep...ends on the rationale of expressing R&D as a percentage of sales. This ratio is, of course, one of those commonly used in financial analysis, and perhaps is most meaningfully compared with profit as a percentage of sales. Here, because private R & D is usually treated as a current expense, a comparison indicates the degree to which cur- rent profit taking is being postponed in favor of future prof its--that may or may not result from the entrepreneurial venture into R&D.

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