endogenous share opts for innovation and faces credit constraints in the subsequent expansion phase. We emphasize four results …: (i) R&D subsidies not only encourage innovation but also relax finance constraints and help innovative firms to exploit … investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …

regard to the capital gains tax, innovation subsidy, public R&D spending and other policy initiatives. …

We explore the relationship between innovation activity, productivity, and exports using a panel of Spanish … manufacturing firms for 1990-1998. Our results - based on non-parametric tests - suggest that firm innovation status is important in … innovation seems to explain the positive association between exports and productivity for this group of firms. For small non …

Successful innovation depends on the development and integration of new knowledge in the innovation process. In order … to innovate successfully, the firm will combine different innovation activities. In addition to doing own research and … development, firms typically are engaged in the acquisition of knowledge on the technology market and cooperate actively in R …