DEPRECIATION RATE OF R&D CAPITAL: PANEL DATA ANALYSIS OF LISTED FIRMS IN JAPANESE R&D-INTENSIVE INDUSTRIES
Journal Title: Asian Economic and Financial Review - Year 2016, Vol 6, Issue 4
Abstract
Research and development (R&D) capital is thought to be at the core of technological progress. To measure the effect of R&D capital correctly, the knowledge of its depreciation rate is required. However, few studies have paid attention to the depreciation rate of R&D capital for recent Japanese firms. This study estimates the depreciation rate of R&D capital by two methods using panel data of listed Japanese firms in R&D-intensive industries. The results show that the rates are higher than the conventionally accepted 15 percent and those estimated by previous studies for Japanese firms.
Authors and Affiliations
Hirotsugu Sakai| Research Director, Mitsubishi Research Institute, Chiyoda-ku, Tokyo, Japan and Visiting Professor, Graduate School of Economics, Osaka University Machikaneyamacho, Toyonaka, Osaka, Japan
Keywords
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