This paper studies the problem of incentivizing an agent in an innovation project when the progress of innovation is … known only to the agent. I assume the success of innovation requires an intermediate breakthrough and a final breakthrough …

We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs …

This study presents a novel empirical approach to identify financing constraints for innovation based on the idea of an … alternatives of use. If they choose additional innovation projects they must have had some unexploited investment opportunities … attribute constraints for innovation not only to lacking financing, but also to firms' innovative capability. Econometric …

This study presents a novel empirical approach to identify financing constraints for innovation based on the concept of … alternatives of use. If they selected additional innovation projects, they must have had some unexploited investment opportunities … that were not profitable using more costly external finance. We attribute constraints for innovation not only to lacking …

This study presents a novel empirical approach to identify financing constraints for innovation based on the concept of …. If they selected additional innovation projects, they must have had some unexploited investment opportunities that were … not profitable using more costly external finance. We attribute constraints for innovation not only to lacking financing …

Economic theory suggests that financing constraints may occur due to capital market imperfections. These particularly … affect investments in innovation projects as such projects are typically characterized by a high degree of uncertainty …, complexity and specificity. Financing innovation externally is thus likely to be more costly compared to financing of other …

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 …

Financing constraints have been discussed as a major obstacle to innovation. Small and medium-sized enterprises and … sense and as instruments for financing innovation. It also discusses implications of these developments for public policy …

This paper reviews the literature on the role of public equity markets in the innovation ecosystem. The review … paper discusses the potential shortcomings of public equity markets that may hinder innovation, and highlights various …