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Subsidies and Innovation in the Recent Financial Crisis

Giebel, Marek; Kraft, Kornelius - 2022

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/10013309766

The Impact of the Financial Crisis on Investments in Innovative Firms

Giebel, Marek - 2015

This paper investigates the impact of the financial crisis on investment decisions in innovative versus non-innovative firms. Firms are defined as being innovative if they have introduced a new product to the market. The empirical test is based on data for the years before and after the recent...

Persistent link: https://www.econbiz.de/10013014643

External Financing Constraints and Firm's Innovative Activities During the Financial Crisis

Giebel, Marek - 2017

innovation activities of their business customers. Individual banks' liquidity shocks are identified by the degree of interbank … total innovation expenditures in comparison to the periods before. Our results imply that those firms which have a business … relation to a bank with higher interbank market reliance reduce their innovation activities during the financial crisis to a …

Persistent link: https://www.econbiz.de/10012941280

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/10014100103

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/10013311781