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Innovation, Trade, and Finance
Egger, Peter; Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2011
This paper proposes a model where heterogeneous firms choose whether to undertake R&D or not. Innovative firms are more productive, have larger investment opportunities and lower own funds for necessary tangible continuation investments than non-innovating firms. As a result, they are...
Persistent link: https://www.econbiz.de/10009150949
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Profit Taxation, Innovation and the Financing of Heterogeneous Firms
Keuschnigg, Christian; Ribi, Evelyn - C.E.P.R. Discussion Papers - 2010
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 …
Persistent link: https://www.econbiz.de/10008468605
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Optimal Public Policy for Venture Capital Backed Innovation
Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2003
regard to the capital gains tax, innovation subsidy, public R&D spending and other policy initiatives. …
Persistent link: https://www.econbiz.de/10005497714