they matter. We first characterize YICs in the sample of innovation active firms. We show that firms that combine newness … financial constraints, both internal and external, as an important factor hampering their innovation activities, significantly … more so than other innovation active firms. This access to finance problem is an often used motive for government …

Innovation in the European Union remains weak according to a number of key "input" indicators, especially R …'s innovation gap relative to the US results from an inappropriate industrial structure in which new firms do not play a significant … role, especially in new high-tech sectors. This view of a structural EU innovation deficit has many supporters. But it has …