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This article investigates how a firm's financial strength affcts its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from its...
Persistent link: https://www.econbiz.de/10011404565
Persistent link: https://www.econbiz.de/10001735363
the impact of bank size. -- Innovation ; Start-up ; Credit information sharing ; Soft information …
Persistent link: https://www.econbiz.de/10009540878
This article examines the impact of innovation on employment growth in innovating small and medium enterprises using a … quantile regression approach. The key findings are that innovation has a positive effect on employment in both growing and … shrinking firms. The impact of innovation on employee headcounts is much stronger in companies that are already experiencing …
Persistent link: https://www.econbiz.de/10003806158
This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find...
Persistent link: https://www.econbiz.de/10003888735
This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find...
Persistent link: https://www.econbiz.de/10003671082
This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find...
Persistent link: https://www.econbiz.de/10003301146
mezzanine capital, when facing a loan denial. -- Investment ; loan availability ; innovation ; private equity …
Persistent link: https://www.econbiz.de/10003961525
CEOs, managers and non-managerial employees’ ideas enhances small firms’ innovation performance. A Heckman selection model … innovation performance. However, contributions depend heavily on the individuals’ area of expertise and on whether product or … process innovation is desired. Our findings enrich the current view on the entrepreneurial team, but also warn against the …
Persistent link: https://www.econbiz.de/10009509658
The massive economic crisis 2008/09 had substantial impacts on the innovation activities of the German economy. The … loss in sales and profits resulted in a sharp decline of innovation expenditure. While capital expenditure for new products … and improved processes were cut substantially, R&D budgets basically remained unchanged. Firms with innovation and R …
Persistent link: https://www.econbiz.de/10009424135