Uncertainty, Flexible Labour Relations and R&D | Zendy

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Uncertainty, Flexible Labour Relations and R&D

Author(s) -

Di Cintio Marco,

Grassi Emanuele

Publication year - 2017

Publication title -

metroeconomica

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.256

H-Index - 29

eISSN - 1467-999X

pISSN - 0026-1386

DOI - 10.1111/meca.12127

Subject(s) - flexibility (engineering) , workforce , economics , product market , product (mathematics) , labour economics , microeconomics , management , mathematics , economic growth , incentive , geometry

This paper examines the effects of uncertainty and flexible labour contracts on the Research and Development (R&D) intensity. Using a panel of Italian manufacturing firms, we find a hump‐shaped relationship between workforce flexibility and R&D intensity. Moreover, as predicted by the real options theory, our results suggest that product market uncertainty reduces R&D efforts and that flexible labour contracts countervail the adverse effect of uncertainty on R&D.

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