TITLE:
A Study on the Relationship among Technology Spillovers, R&D Investment and Firms’ Cash Holdings
AUTHORS:
Jiayu Chi, Ling Sun
KEYWORDS:
Technology Spillovers, R&D Investment, Cash Holdings
JOURNAL NAME:
Modern Economy,
Vol.8 No.12,
December
27,
2017
ABSTRACT: This study analyzes the relationship among technology
spillovers, R&D investment and firms’ cash holdings. We find that
technology spillovers and R&D investment have a significant positive impact
on the firms’ cash holdings; and R&D investment plays an intermediary role
in technology spillovers’ influence on firms’ cash holdings.