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R&D investment under financing constraints

Giebel, Marek; Kraft, Kornelius - 2020

This paper tests for the sensitivity of R&D to financing constraints conditional on restrictions in external financing. Financing constraints of firms are identified by an exogenously calculated rating index. Restrictions in external financing are determined by (i) the specific time period...

Persistent link: https://www.econbiz.de/10012196342

R&D Investment under Financing Constraints

Giebel, Marek; Kraft, Kornelius - 2020

Persistent link: https://www.econbiz.de/10014100103

R&D Investment and Financing Constraints of Small and Medium-Sized Firms

Hottenrott, Hanna - 2013

This study tests for financial constraints on Ramp;D investment and how they differ from capital investment. To … constraints, measured by mark-ups, are more decisive for Ramp;D than for capital investment. For external constraints, we find a … monotonic relationship between the level of constriction and firm size for both types of investment. Thus, external constraints …

Persistent link: https://www.econbiz.de/10012711028

Subsidies and innovation in the recent financial crisis

Giebel, Marek; Kraft, Kornelius - 2021

We analyze the impact of subsidies on R&D expenditures in the financial crisis and beyond. The financial crisis has led to considerable turmoil in financing and, as a result, to restrictions of firms' access to external financing. Utilizing this fact, we identify and analyze financing...

Persistent link: https://www.econbiz.de/10012793582

Erklärungsansätze des realen Wechselkurses

Pfadt, Rainer - 2009

Persistent link: https://www.econbiz.de/10003811946

What Finances R&D? R&D, Cash Flow Sensitivities, and Financing Constraints

Zhuang, Zhong - 2013

-equation model in which firms make interdependent decisions in financing, investment, and distribution, under the constraint that … and debt for R&D financing. R&D and physical capital investment are likely to be complementary for mature, but not for …

Persistent link: https://www.econbiz.de/10013091799

Financing constraints and R&D investments of large corporations in Europe and the USA

Cincera, Michele; Ravet, Julien - 2010

This paper explores the existence and importance of financing constraints for R&D investments in large EU and US manufacturing companies over the 2000-2007 period. The main results obtained by estimating error-correction equations suggest that the sensitivity of R&D investments to cash flow...

Persistent link: https://www.econbiz.de/10011980362

Optimal Patent Strength under Financial Constraints

Kiedaisch, Christian - 2014

This paper analyzes how the optimal strength of patents on basic inventions is affected by financial constraints on the side of either inventors or developers. The lower the net wealth of a developer is, the more difficult it becomes for an inventor to license her invention to him as she has to...

Persistent link: https://www.econbiz.de/10013069914

Endogenous Financial Constraints and Innovation

Lahr, Henry - 2020

We investigate which indicators of a firm's innovation activities are associated with financial constraints and analyse the nature and direction of causal links between innovation and financial constraints. By estimating simultaneous bivariate probit models on data from the UK Innovation...

Persistent link: https://www.econbiz.de/10012850417

Strategic information disclosure and competition for an imperfectly protected innovation

Jansen, Jos - 2009

The imperfect appropriability of revenues from innovation affects the incentives of firms to invest, and to disclose information about their innovative productivity. It creates a free-rider effect in the competition for the innovation that countervails the familiar business-stealing effect....

Persistent link: https://www.econbiz.de/10003862257

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