Abstract
Using a panel of Taiwan’s publicly traded companies in the manufacturing industry over the period of 1995-2009, this thesis investigates the impact of firms’ R&D investments and financial conditions on their export intensity. In addition to the OLS method, this study uses the Quantile Regression to examine whether the financial constraints and R&D investments have different degrees of influence on firms’ export intensities for large and small exporters. The results suggest that firm productivity and R&D investments have a positive influence on firms’ export intensity. Financially constrained firms (those firms with less liquidity ratios or higher leverage ratios) are likely to have small export intensities. Moreover, the effects of firm productivity, R&D investments, and financial variables on firms’ export intensities are different for large and small exporters.