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Self-financing of traditional and R&D investments : evidence from Italian SMEs
Brighi, Paola; Patuelli, Roberto; Torluccio, Giuseppe - 2012
Self-financing has often been seen as an important source for research-and-development (R&D) funding. However, an in-depth comparison between the determinants of self-financing in the case of traditional investments versus those in R&D has not been provided yet. We use a comprehensive data set...
Persistent link: https://www.econbiz.de/10011731350
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Self-Financing of Traditional and R&D Investments : Evidence from Italian SMEs
Brighi, Paola - 2013
Self-financing has often been seen as an important source for research-and-development (R&D) funding. However, an in-depth comparison between the determinants of self-financing in the case of traditional investments versus those in R&D has not been provided yet. We use a comprehensive data set...
Persistent link: https://www.econbiz.de/10013090276
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Self-Financing of Traditional and R&D Investments: Evidence from Italian SMEs
Brighi, Paola; Patuelli, Roberto; Torluccio, Giuseppe - 2012
Self-financing has often been seen as an important source for research-and-development (R&D) funding. However, an in-depth comparison between the determinants of self-financing in the case of traditional investments versus those in R&D has not been provided yet. We use a comprehensive data set...
Persistent link: https://www.econbiz.de/10011651737
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Self-Financing of Traditional and R&D Investments: Evidence from Italian SMEs
Brighi, P.; Patuelli, R.; Torluccio, G. - Dipartimento di Scienze Economiche, Alma Mater … - 2012
Self-financing has often been seen as an important source for research-and-development (R&D) funding. However, an in-depth comparison between the determinants of self-financing in the case of traditional investments versus those in R&D has not been provided yet. We use a comprehensive data set...
Persistent link: https://www.econbiz.de/10010903845
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Relationship Lending and SMEs’ Funding Costs Over the Cycle : Why Diversification of Borrowing Matters
Coffinet, Jerome - 2019
Using a unique panel design that enables to control for bank, firm, market and loan heterogeneities, we confirm that relationship lenders charge higher rates in good times and lower rates in bad times. However, we show that risky single-bank firms do not benefit from this insurance mechanism and...
Persistent link: https://www.econbiz.de/10012895787
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Relationship Lending and SMEs’ Funding Costs Over the Cycle : Why Diversification of Borrowing Matters
Béatriz, Mickael - 2019
Using a unique panel design that enables to control for bank, firm, market and loan heterogeneities, we confirm that relationship lenders charge higher rates in good times and lower rates in bad times. However, we show that risky single-bank firms do not benefit from this insurance mechanism and...
Persistent link: https://www.econbiz.de/10012895901
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How Do Short-term Financial Constraints Affect SMEs’ Long-Term Investment : Evidence from the Working Capital Channel
Nicolas, Theo - 2019
channel: cash credit constraints may force SMEs to forgo investment opportunities in order to finance their working capital …) short-term credit constraints are as important as long-term ones in SMEs' investment decisions; (2) the detrimental effect …) only liquid SMEs are able to offset short-term financial frictions by adjusting their accounts receivable and inventories …
Persistent link: https://www.econbiz.de/10012861204
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Post-financial crisis times : only a short phase of re-intermediation and re-direction to boring banking business models? : regulatory burden, fintech competition and concentration...
Schackmann-Fallis, Karl-Peter; Weiß, Mirko - In: Vierteljahrshefte zur Wirtschaftsforschung 87 (2018) 4, pp. 87-117
The analysis highlights the aspects of diversified market structures and of local, low-distance banking as advantageous for financial stability. Heterogeneity protects from uniform market behaviour. Local banking can better overcome the problem of asymmetric information, particular in SME...
Persistent link: https://www.econbiz.de/10012153544
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A Cross-Licensing System Discourages R&D Investments In Completely Complementary Technologies
Okamura, Makoto; Shinkai, Testuya; Tanaka, Satoru - School of Economics, Kwansei Gakuin University - 2005
We consider the research and development (R&D) investment com petition of duopolistic firms in completely complementary technologies. By "completely complementary technologies," we mean that no firm can produce the goods without both of the technologies. We derive the investments competition...
Persistent link: https://www.econbiz.de/10005764913
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The great recession and bank lending to small businesses
Montoriol-Garriga, Judit; Wang, J. Christina - 2011
This paper investigates whether small firms have experienced worse tightening of credit conditions during the Great Recession than large firms. To structure the empirical analysis, the paper first develops a simple model of bank loan pricing that derives both the interest rates on loans actually...
Persistent link: https://www.econbiz.de/10009500930