Arbeitspapier
R&D Investment and Financing Constraints of Small and Medium-Sized Firm
This study tests for financial constraints on R&D investment and how they differ from capital investment. To identify constraints in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by mark-ups, are more decisive for R&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 turn out to be more binding with decreasing firm size. On the contrary, we do not find such monotonic relationships for internal constraints. Differentiation by firms? age does not support lower constraints for older firms.
- Sprache
-
Englisch
- Erschienen in
-
Series: ZEW Discussion Papers ; No. 08-047
- Klassifikation
-
Wirtschaft
Innovation and Invention: Processes and Incentives
Management of Technological Innovation and R&D
- Thema
-
R&D Investment
Capital Investment
Financial Constraints
Panel Data
Censored Regression Models
Forschungsfinanzierung
Verschuldungsrestriktion
Industrielle Forschung
Investition
Kreditwürdigkeit
Deutschland
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Czarnitzki, Dirk
Binz, Hanna L.
- Ereignis
-
Veröffentlichung
- (wer)
-
Zentrum für Europäische Wirtschaftsforschung (ZEW)
- (wo)
-
Mannheim
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Czarnitzki, Dirk
- Binz, Hanna L.
- Zentrum für Europäische Wirtschaftsforschung (ZEW)
Entstanden
- 2008
Ähnliche Objekte (12)
Research and Development: Financial Constraints and the Role of Public Funding for Small and Medium-sized Enterprises
Research and development: financial constraints and the role of public funding for small and medium-sized enterprises
Capital control, debt financing and innovative activity
Capital Control, Debt Financing and Innovative Activity
Patent collateral and access to debt
Information leakage, imitation, and the patent system
Extent and Evolution of the Productivity Gap in Eastern Germany
The R&D Investment-Uncertainty Relationship: Do Competition and Firm Size Matter?
Financial constraints for R&D and innovation: New evidence from a survey experiment
Innovation subsidies: does the funding source matter for innovation intensity and performance? : Empirical evidence from Germany
The design paradox : the contribution of in-house and external design activities on product market performance
Collaborative R&D as a strategy to attenuate financing constraints
Research and Development: Financial Constraints and the Role of Public Funding for Small and Medium-sized Enterprises
Research and development: financial constraints and the role of public funding for small and medium-sized enterprises
Capital control, debt financing and innovative activity
Capital Control, Debt Financing and Innovative Activity
Patent collateral and access to debt
Information leakage, imitation, and the patent system
Extent and Evolution of the Productivity Gap in Eastern Germany
The R&D Investment-Uncertainty Relationship: Do Competition and Firm Size Matter?
Financial constraints for R&D and innovation: New evidence from a survey experiment
Innovation subsidies: does the funding source matter for innovation intensity and performance? : Empirical evidence from Germany
The design paradox : the contribution of in-house and external design activities on product market performance
Collaborative R&D as a strategy to attenuate financing constraints
Research and Development: Financial Constraints and the Role of Public Funding for Small and Medium-sized Enterprises
Research and development: financial constraints and the role of public funding for small and medium-sized enterprises
Capital control, debt financing and innovative activity
Capital Control, Debt Financing and Innovative Activity
Patent collateral and access to debt
Information leakage, imitation, and the patent system
Extent and Evolution of the Productivity Gap in Eastern Germany
The R&D Investment-Uncertainty Relationship: Do Competition and Firm Size Matter?
Financial constraints for R&D and innovation: New evidence from a survey experiment
Innovation subsidies: does the funding source matter for innovation intensity and performance? : Empirical evidence from Germany
The design paradox : the contribution of in-house and external design activities on product market performance