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The real effects of EU loan guarantee schemes for SMEs: a pan-European assessment
Brault, Julien; Signore, Simone - 2019
This paper provides a pan-European assessment of EU credit guarantees to SMEs. Synthesizing past research, it investigates the firm-level economic impact of over 360,000 guaranteed loans under the EU MAP and CIP programmes from 2002 to 2016. These loans represented a total amount of EUR 22bn...
Persistent link: https://www.econbiz.de/10012021696
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Financing micro firms in Europe : an empirical analysis
Masiak, Christian; Block, Jörn; Moritz, Alexandra; … - 2017
The vast majority of firms in Europe are micro firms. Still, we know little about their financing patterns. Our paper aims to close this gap. Based on a large European firm-level data set, we find that micro firms differ in their financing patterns from small and medium-sized companies. Our...
Persistent link: https://www.econbiz.de/10011859838
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Subsidies and innovation in the recent financial crisis
Giebel, Marek; Kraft, Kornelius - 2021
We analyze the impact of subsidies on R&D expenditures in the financial crisis and beyond. The financial crisis has led to considerable turmoil in financing and, as a result, to restrictions of firms' access to external financing. Utilizing this fact, we identify and analyze financing...
Persistent link: https://www.econbiz.de/10012793582
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Financial constraints for R&D and innovation : new evidence from a survey experiment
Czarnitzki, Dirk; Giebel, Marek - 2021
at the intensive margin, i.e. our results do not suggest that non-innovative companies are deterred from innovation …
Persistent link: https://www.econbiz.de/10012671880
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Long-term finance and investment with frictional asset markets
Kozlowski, Julian - 2017
Trading frictions in financial markets affect more long- than short-term bonds generating an upward sloping yield curve. Long-term financing is more expensive in economies with higher trading frictions so firms choose to borrow and invest in shorter horizons and lower productivity projects. The...
Persistent link: https://www.econbiz.de/10011911516
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R&D investment under financing constraints
Giebel, Marek; Kraft, Kornelius - 2020
This paper tests for the sensitivity of R&D to financing constraints conditional on restrictions in external financing. Financing constraints of firms are identified by an exogenously calculated rating index. Restrictions in external financing are determined by (i) the specific time period...
Persistent link: https://www.econbiz.de/10012196342
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Public procurement as an innovation policy : where do we stand?
Chiappinelli, Olga; Giuffrida, Leonardo M.; Spagnolo, … - 2023
Economics and innovation scholars have long recognized the potential of public procurement to trigger innovation. To …? This paper addresses these issues by providing a literature survey of research on public procurement of innovation (PPI …: i) Does PPI spur innovation? ii) How should PPI be designed to best spur innovation? iii) What are the main barriers to …
Persistent link: https://www.econbiz.de/10013499115
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Does green public procurement trigger environmental innovations?
Krieger, Bastian; Zipperer, Vera - 2021 - This version: August 2021
public procurement tenders. However, there is no direct or broad empirical evidence on its innovation impact. There are even … doubts about its effectiveness as an innovation policy tool, as it does not require innovations as part of its contracts and …
Persistent link: https://www.econbiz.de/10012623448
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A comparison between sustainability frameworks : an integrated reading through ESG criteria for business strategies and enterprise risk management
Casciotti, Paola - 2023
Implementing the complex Agenda 2030, with its high global Sustainable Development Goals (SDGs) requires, in the by now short time horizon of reference, an extraordinary effort, at all institutionals and private levels, to converge effectively on the whole system of intermediate and interrelated...
Persistent link: https://www.econbiz.de/10014391219
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Econometric study on the impact of EU loan guarantee financial instruments on growth and jobs of SMEs
Bertoni, Fabio; Brault, Julien; Colombo, Massimo G.; … - 2019
This working paper investigates the economic effects of guaranteed loans granted under the EU programmes MAP and CIP on SMEs' growth in Italy, the Benelux and the Nordic countries (Denmark, Finland, Norway and Sweden) from 2002 to 2016. In these macro-regions, the facilities supported 174,107...
Persistent link: https://www.econbiz.de/10011963850