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external finance on different tangible and intangible investment types. Second, our analysis focuses on a broad spectrum of … estimate the finance-investment link, we find that SMEs and large enterprises show a different financing behaviour for their … investment activity. The results suggest that SMEs' tangible asset investment is positively related to the use of bank finance …
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The way firms finance their investments can potentially explain the heterogeneity of firms in terms of their innovation … between finance and innovation of EU firms. We identify seven financing clusters to show that the degree of innovativeness …
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Why don't non-financial companies in Europe issue more equity? Using experimental data on firms from Europe, this paper analyses how firms trade-off between debt and external equity financing. It finds that firms are willing to pay a substantial premium on debt when presented with an equity...
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new to the market. To further explore why young SMEs are not more active in innovation, we explore their access to finance …
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