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Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital for financing R&D externally, resulting in financing constraints on R&D especially for...
Persistent link: https://www.econbiz.de/10010957591
The ability of firms to establish R&D collaborations that combine resources, exploit complementary know-how, and internalize R&D externalities has been shown to be of high importance for the successful creation and implementation of new knowledge. We argue in this article that collaborative R&D...
Persistent link: https://www.econbiz.de/10010957620
Previous literature provided evidence on financing constraints for investment in R&D activities due to capital market imperfections and special features of R&D investments. Moreover, it has been shown that a shift in capital structure towards more debt, results in a reduction of R&D investments....
Persistent link: https://www.econbiz.de/10008533548
This study examines how industry-specific managerial experience affects firms' innovation performance in the context of …
Persistent link: https://www.econbiz.de/10010957603
This study presents a novel empirical approach to identify financing constraints for innovation based on the concept of …. If they selected additional innovation projects, they must have had some unexploited investment opportunities that were … not profitable using more costly external finance. We attribute constraints for innovation not only to lacking financing …
Persistent link: https://www.econbiz.de/10010957615
Using firm-level data from the German manufacturing sector, we estimate a dynamic, structural model of the firm's decision to invest in R&D and quantify the cost and longrun benefit of this investment. The model incorporates and quantifies linkages between the firm's R&D investment, product and...
Persistent link: https://www.econbiz.de/10010957646
market (innovation). It turns out that spillovers from rivals lead to more imitation, while inputs from customers and … research institutions enhance original innovation. …
Persistent link: https://www.econbiz.de/10010957653
This study presents a novel empirical approach to identify financing constraints for innovation based on the idea of an … alternatives of use. If they choose additional innovation projects they must have had some unexploited investment opportunities … attribute constraints for innovation not only to lacking financing, but also to firms' innovative capability. Econometric …
Persistent link: https://www.econbiz.de/10008474671
This paper explores the role of R&D worker mobility on innovation performance. As one main novelty, we employ churning … innovation through inter-firm knowledge spillovers and improved job-match quality up to certain threshold. The point when costs …
Persistent link: https://www.econbiz.de/10008526846
innovation, i.e. weakly controlled managers show a higher innovation propensity. However, the higher the leverage the more …
Persistent link: https://www.econbiz.de/10005097531