This paper assesses whether European firms' innovative performance is impacted by investments in training directly aimed at developing and/or introducing innovation, in addition to the scale of a firm's investments in innovation proxied by the number of R&D personnels. In particular, it explores...

Firm investment, Intangible assets, Loan terms, Credit constraint, Survey data, Instrumental variable approachUsing European firm-level data from a new survey, the EIBIS, we document the effect of bank loan terms on investment in intangible assets of non-financial corporations. We show that...

Using a cross-country firm level panel dataset from 1995 to 2015, this paper revisits the finance–productivity nexus by looking at the role of intangible assets. It argues that due to their specific characteristics, such as valuation uncertainty and lower pledgeability, financing the purchase...

This paper investigates the innovation impact of intangibles by considering the decision of firms to invest in a comprehensive set of them. By using a new survey on a large sample of firms in 28 EU (plus 8 non-EU) countries, we first identify the principal components of the resources firms...

The document sets out how intangible assets can be relevant for SMEs to obtain external funding; the challenges and opportunities in this area; and the rationale for policy intervention. It provides some policy trends from a selected group of countries and concludes with some issues to be...

We investigate the extent to which financial constraints hamper the firms’ investment in intangibles. Drawing on the extant literature, we maintain that a distinction should be kept between innovators and non-innovators. Moreover, we argue that such a distinction should be investigated along...

This paper explores the growing importance of intangible assets as a potential source of innovation and productivity gains, and the contribution of efficient resource allocation to this process. Realising the growth opportunities implied by intangible assets depends on the ability to reallocate...

This paper investigates capital formation with a view at various tangible and intangible assets across Europe. Using novel datasets both at macro and firm level, we estimate translog production functions to assess complementarities at different aggregation levels. At macro-level, our evidence...

Located at the heart of global value chains (GVCs), intangibles are documented to have a high and rising value capture, and to depend on both agglomeration economies and global connectedness for their performance. In this paper, we study how the distinct nature of intangibles require countries...