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. …

innovation is naturally seen as the key driver of future (high) economic growth. We sample listed nonfinancial firms from eight … cash flow sensitivity of R&D investment, suggesting more stable funding of innovation. Overall, there does not seem to be …

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 …

receiving public innovation funding and other firm characteristics. As many as 75% of the firms funded by business angels have … also received public innovation funding in some phase, and 57% have received it before angel funding. However, no robust …