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Keywords: Countercyclical
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Journal Articles
Management Research: The Journal of the Iberoamerican Academy of Management (2020) 18 (2): 171–199.
Published: 25 September 2019
... an industry’s GVA, the lower the predicted probability that firms in that industry would invest. Additionally, R&D investments are not procyclical, and there is marginal evidence that they might actually be countercyclical. These findings are consistent with Schumpeter (1939) and Ouyang (2011...
