Investments in R&D have been identified as a cornerstone for growth and competitive advantages of firms and whole economies. We investigate the role that a firm's main bank plays for its investment in R&D. Existing literature suggests that the inherent information asymmetries of R&D projects...

Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...

Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...

Die Bedeutung von Unternehmensgründungen insbesondere in innovativen und technologieorientierten Sektoren für die Stärkung der Wettbewerbs- und Leistungsfähigkeit einer Volkswirtschaft ist hinlänglich bekannt. Die Entscheidung, ein Unternehmen zu gründen, wird auf Basis verschiedener...

Im Februar 2012 beauftragte das Ministerium für Ländlichen Raum und Verbraucherschutz des Landes Baden-Württemberg das ZEW mit der Erstellung einer Studie zu "Gründungsaktivitäten im Hightech-Bereich in Baden-Württemberg". In dieser Studie werden in drei Abschnitten eine differenzierte...

Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...