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This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find...
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engaging in virtually no collaboration in the area of innovation, and others engaging quite intensively with academic partners …
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National Innovation System, with particular attention devoted to the question of finance and policy initiatives. We then turn …
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knowledge acquisition, and barriers to innovation and development. In spite of a relative lack of government support, we find …
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