The aim of this paper is to evaluate the causal effect of issuing equities on the probability that the firm engages in R&D activity. In financing innovation equity is a better source of external finance than debt. Equity does not require collateral, does not increase moral hazard problems...

This report analyses the main developments in housing finance in the euro area in the decade, covering the period from 1999 to 2007. It looks at mortgage indebtedness, various characteristics of loans for house purchase, the funding of such loans and the spreads between the interest rates on...

This paper evaluates the causal effect of issuing equities on the probability that a firm engages in R&D activity. Equity is a better source of external finance than debt for innovation. It does not require collateral, does not exacerbate moral hazard problems connected with the substitution of...