?s Investment Tests (IT) during the years 1988-1998, we create a panel with information on investment, innovation activity and … financing conditions. Financial constraints affect the distribution of investment over time in a fundamental way. Following a … on Schworm?s (1980) model of optimal investment under financial constraints, we use it to test the empirical content of …

factor, and external investment adjustment costs. First-order conditions of the model are estimated by the generalized method …

The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms …

distribution of growth rates of firm's real sales is influenced by business cycle conditions. In particular, the cross …

transition probabilities of a firm in a certain real sales growth regime switching to another regime in the next period, e ….g. whether a firm that has witnessed a high growth rate is likely to stay in a regime of high growth or is bound to switch in a … regime of low growth in the subsequent period. We find that these probabilities depend on the business cycle position. …

The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms … display higher growth rates but do not differ in their innovative output from otherwise comparable firms. We derive strategic …

transition probabilities of a firm in a certain real sales growth regime switching to another regime in the next period, e ….g. whether a firm that has witnessed a high growth rate is likely to stay in a regime of high growth or is bound to switch in a … regime of low growth in the subsequent period. We find that these probabilities depend on the business cycle position …