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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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resources, home market competition and innovationrelated location advantages for an SME's decision to engage in innovation …This paper investigates the drivers and the effects of the internationalisation of innovation activities in SMEs based … on a large data set of German firms covering the period 2002-2007. We look at different stages of the innovation process …
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