Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics …

We analyze the link between R&D, innovation, and productivity in MSMEs with a special focus on micro firms with fewer … the probability of reporting innovation, with a larger effect size for product than for process innovations. Moreover …, micro firms benefit in a comparable way from innovation processes as larger firms, as they are similarly able to increase …