Degryse, Hans; De Jonghe, Olivier; Gambacorta, Leonardo; … - 2024
' innovation activities. We show that the sign and magnitude of this effect vary with the degree of "asset overhang" across sectors … patent data and micro-level innovation survey data, we find that lenders' sectoral specialization improves innovation for … firms operating in sectors with low asset overhang, but impedes innovation for firms operating in sectors with high asset …