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External financing constraints and firm's innovative activities during the financial crisis
Giebel, Marek; Kraft, Kornelius - 2017
innovation activities of their business customers. Individual banks' liquidity shocks are identified by the degree of interbank … total innovation expenditures in comparison to the periods before. Our results imply that those firms which have a business … relation to a bank with higher interbank market reliance reduce their innovation activities during the financial crisis to a …
Persistent link: https://www.econbiz.de/10011762085
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Drohende Finanzierungsklemme bei Innovationen : rechtzeitig entgegensteuern
Ketzler, Rolf; Schäfer, Dorothea - In: DIW-Wochenbericht : Wirtschaft, Politik, Wissenschaft 76 (2009) 45, pp. 772, 774-783
Persistent link: https://www.econbiz.de/10003896766
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"Forschungs- und Entwicklungsausgaben zusätzlich steuerlich fördern" : sechs Fragen an Rolf Ketzler
Ketzler, Rolf; Wittenberg, Erich - In: DIW-Wochenbericht : Wirtschaft, Politik, Wissenschaft 76 (2009) 45, pp. 773
Persistent link: https://www.econbiz.de/10003896768
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Bank credit supply and firm innovation
Giebel, Marek; Kraft, Kornelius - 2018
financial crisis 2008/2009 on their business customers’ innovation activity. Using a matched bank-firm data set for Germany, we … find that having relations with a more severely affected bank seriously hampers firms’ current innovation activities due to … initiate new product and process innovations and to reallocate human resources to innovation during the financial crisis. …
Persistent link: https://www.econbiz.de/10011798962
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R&D investment under financing constraints
Giebel, Marek; Kraft, Kornelius - 2020
This paper tests for the sensitivity of R&D to financing constraints conditional on restrictions in external financing. Financing constraints of firms are identified by an exogenously calculated rating index. Restrictions in external financing are determined by (i) the specific time period...
Persistent link: https://www.econbiz.de/10012196342
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Financing Failure : Bankruptcy Lending, Credit Market Conditions, and the Financial Crisis
Tung, Frederick - 2020
When contemplating Chapter 11, firms often need to seek financing for their continuing operations in bankruptcy. Because such financing would otherwise be hard to find, the Bankruptcy Code authorizes debtors to offer sweeteners to debtor-in-possession (DIP) lenders. These inducements can be...
Persistent link: https://www.econbiz.de/10012828010
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Are lending relationships beneficial or harmful for public credit guarantees? : evidence from Japan's Emergency Credit Guarantee Program
Ono, Arito; Uesugi, Iichiro; Yasuda, Yukihiro - 2011
This paper examines the effectiveness of Japans Emergency Credit Guarantee (ECG) program set up during the financial turmoil following the failure of Lehman Brothers, in increasing credit availability and improving the ex-post performance of small businesses. In particular, using a unique...
Persistent link: https://www.econbiz.de/10009153881
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Designing financial support for SMEs during crises : the role of bank lending
Wang, Tianxi; Wang, Xuan - 2021
When designing schemes to help SMEs survive crises, the government typically faces asymmetric information, so that it cannot target the SMEs most worth saving. We show that the government can exploit the information in the borrower loan demand to improve policy targets compared with existing...
Persistent link: https://www.econbiz.de/10012665866
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Subsidies and innovation in the recent financial crisis
Giebel, Marek; Kraft, Kornelius - 2021
We analyze the impact of subsidies on R&D expenditures in the financial crisis and beyond. The financial crisis has led to considerable turmoil in financing and, as a result, to restrictions of firms' access to external financing. Utilizing this fact, we identify and analyze financing...
Persistent link: https://www.econbiz.de/10012793582
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Forschungs- und Entwicklungsausgaben zusätzlich steuerlich fördern: Sechs Fragen an Rolf Ketzler
Ketzler, Rolf; Wittenberg, Erich - In: DIW Wochenbericht 76 (2009) 45, pp. 773
Persistent link: https://www.econbiz.de/10011602085