Financial Constraints and Other Obstacles: are they a Threat to Innovation Activity?

被引：0
作者：
P. Mohnen
F. C. Palm
S. Schim van der Loeff
A. Tiwari
机构：
[1] Maastricht University,Faculty of Economics and Business Administration
来源：
De Economist | 2008年 / 156卷
关键词：
financial constraints; innovations; innovation policy; O310; O380; D 210;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
In this paper we examine the importance of financial and other obstacles to innovation in the Netherlands using statistical information from the CIS 3.5 innovation survey. We report results on the effect of these obstacles on the firms’ decision to abandon, prematurely stop, seriously slow down, or not to start an innovative project. These results are compared with those from other studies in the Netherlands and other countries. We end with a discussion of policy measures that have been taken to overcome, or at least attenuate these obstacles, such as R&D tax incentives, venture capital financing and policy mix packages.
引用
收藏
页码：201 / 214
页数：13
相关论文
共 46 条
  • [1] Aghion P.(2005)‘Competition and Innovation: An Inverted-U Relationship’ Quarterly Journal of Economics 120 701-728
  • [2] Bloom N.(1998)‘The Economics of Small Business Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle’ Journal of Banking and Finance 22 613-673
  • [3] Blundell R.(1985)‘Innovation and Communication: Signalling with Partial Disclosure’ Review of Economic Studies 50 331-346
  • [4] Griffith R.(1998)‘Venture Capital and the Structure of Capital Markets: Banks Versus Stock Markets’ Journal of Financial Economics 47 243-277
  • [5] Howitt P.(1999)‘The Relationship Between Firm Investment and Financial Status’ Journal of Finance 54 673-692
  • [6] Berger A.N.(2005)‘The Risk and Return of Venture Capital’ Journal of Financial Economics 75 3-52
  • [7] Udell G.F.(2007)‘Firm-level Implications of Early Stage Venture Capital Investment – An Empirical Investigation’ Journal of Empirical Finance 14 150-167
  • [8] Bhattacharya S.(2004)‘Complementarities Between Obstacles to Innovation: Evidence from France’ Research Policy 33 1185-1199
  • [9] Ritter J.(2006)‘Asset Pricing Implications of Firms’ Financing Constraints’ Review of Financial Studies 19 1321-1356
  • [10] Black B.S.(1995)‘Optimal Investment, Monitoring, and the Staging of Venture Capital’ Journal of Finance 50 1461-1489
12345