innovation activities during periods of recession. We empirically analyse what general patterns can be distinguished in this …: some companies have recently reduced their innovation activities significantly, while others maintained them and a third … deceleration of R&D and innovation activities induced by the crisis, but the trend figures remain positive. Driven by the companies …

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 …

financial crisis 2008/2009 on their business customers’ innovation activity. Using a matched bank-firm data set for Germany, we … find that having relations with a more severely affected bank seriously hampers firms’ current innovation activities due to … initiate new product and process innovations and to reallocate human resources to innovation during the financial crisis. …