메뉴 건너뛰기




Volumn 25, Issue 3, 2016, Pages 183-196

Financing constraints, R&D investments and innovative performances: new empirical evidence at the firm level for Europe

Author keywords

financial constraints; innovation; R D

Indexed keywords


EID: 84957847546     PISSN: 10438599     EISSN: 14768364     Source Type: Journal    
DOI: 10.1080/10438599.2015.1076194     Document Type: Editorial
Times cited : (214)

References (67)
  • 1
    • 0034336937 scopus 로고    scopus 로고
    • Collaboration Networks, Structural Holes and Innovation: A Longitudinal Study
    • G.Ahuja,. 2000. “Collaboration Networks, Structural Holes and Innovation: A Longitudinal Study.” Administrative Science Quarterly 45 (3): 425–455. doi:10.2307/2667105.
    • (2000) Administrative Science Quarterly , vol.45 , Issue.3 , pp. 425-455
    • Ahuja, G.1
  • 2
    • 1642279866 scopus 로고    scopus 로고
    • The Impact of Negative Cash Flow and Influential Observations on Investment-Cash Flow Sensitivity Estimates
    • G.Allayannis,, and A.Mozumdar. 2004. “The Impact of Negative Cash Flow and Influential Observations on Investment-Cash Flow Sensitivity Estimates.” Journal of Banking and Finance 28 (5): 901–930. doi:10.1016/S0378-4266(03)00114-6.
    • (2004) Journal of Banking and Finance , vol.28 , Issue.5 , pp. 901-930
    • Allayannis, G.1    Mozumdar, A.2
  • 3
    • 34548527528 scopus 로고    scopus 로고
    • Financial Constraints, Asset Tangibility, and Corporate Investment
    • H.Almeida,, and M.Campello. 2007. “Financial Constraints, Asset Tangibility, and Corporate Investment.” Review of Financial Studies 20 (5): 1429–1460. doi:10.1093/rfs/hhm019.
    • (2007) Review of Financial Studies , vol.20 , Issue.5 , pp. 1429-1460
    • Almeida, H.1    Campello, M.2
  • 4
    • 84957862410 scopus 로고    scopus 로고
    • “Less is More: Financial Constraints and Innovative Efficiency.” mimeo
    • H.Almeida,, P.-H.Hsu, and D.Li. 2013. “Less is More: Financial Constraints and Innovative Efficiency.” mimeo. http://ssrn.com/abstract=1831786
    • (2013)
    • Almeida, H.1    Hsu, P.-H.2    Li, D.3
  • 5
    • 84957862411 scopus 로고    scopus 로고
    • “Patent Boxes Design, Patents Location and Local R&D.” Taxation Papers No 57, European Commission
    • A.Alstadsæter,, S.Barrios, G.Nicodeme, A.M.Skonieczna, and A.Vezzani. 2015. “Patent Boxes Design, Patents Location and Local R&D.” Taxation Papers No 57, European Commission. http://ec.europa.eu/taxation_customs/resources/documents/taxation/gen_info/economic_analysis/tax_papers/taxation_paper_57.pdf.
    • (2015)
    • Alstadsæter, A.1    Barrios, S.2    Nicodeme, G.3    Skonieczna, A.M.4    Vezzani, A.5
  • 6
    • 77952555376 scopus 로고    scopus 로고
    • Financial Constraints and Firm Export Behaviour
    • F.Bellone,, P.Musso, L.Nesta, and S.Schiavo. 2010. “Financial Constraints and Firm Export Behaviour.” World Economy 33 (3): 347–373. doi:10.1111/j.1467-9701.2010.01259.x.
    • (2010) World Economy , vol.33 , Issue.3 , pp. 347-373
    • Bellone, F.1    Musso, P.2    Nesta, L.3    Schiavo, S.4
  • 7
    • 84958637624 scopus 로고    scopus 로고
    • Evaluating the Impact of Innovation Incentives: Evidence from an Unexpected Shortage of Funds
    • G.Blasio,, D.Fantino, and G.Pellegrini. 2014. “Evaluating the Impact of Innovation Incentives: Evidence from an Unexpected Shortage of Funds.” Industrial and Corporate Change 23 (5): 1–30. doi:10.1093/icc/dtu027.
    • (2014) Industrial and Corporate Change , vol.23 , Issue.5 , pp. 1-30
    • Blasio, G.1    Fantino, D.2    Pellegrini, G.3
  • 8
    • 33947702359 scopus 로고    scopus 로고
    • Uncertainty and the Dynamics of R&D
    • N.Bloom,. 2007. “Uncertainty and the Dynamics of R&D.” American Economic Review 97 (2): 250–255. doi:10.1257/aer.97.2.250.
    • (2007) American Economic Review , vol.97 , Issue.2 , pp. 250-255
    • Bloom, N.1
  • 9
    • 0036276103 scopus 로고    scopus 로고
    • Do R&D Tax Credits Work? Evidence from a Panel of Countries 1979–1997
    • N.Bloom,, R.Griffith, and J.Van Reenen. 2002. “Do R&D Tax Credits Work? Evidence from a Panel of Countries 1979–1997.” Journal of Public Economics 85 (1): 1–31. doi:10.1016/S0047-2727(01)00086-X.
    • (2002) Journal of Public Economics , vol.85 , Issue.1 , pp. 1-31
    • Bloom, N.1    Griffith, R.2    Van Reenen, J.3
  • 10
    • 84855207664 scopus 로고    scopus 로고
    • Investment, R&D, and Financial Constraints in Britain and Germany
    • S.Bond,, D.Harhoff, and J.Van Reenen. 2005. “Investment, R&D, and Financial Constraints in Britain and Germany.” Annales d'Economie et de Statistique 79/80: 433–460. http://www.jstor.org/stable/20777584.
    • (2005) Annales d'Economie et de Statistique , vol.79-80 , pp. 433-460
    • Bond, S.1    Harhoff, D.2    Van Reenen, J.3
  • 11
    • 84957862412 scopus 로고    scopus 로고
    • “Financing Entrepreneurial Firms in Europe: Facts, Issues, and Research Agenda.” CESifo Working Paper Series No 956
    • L.Bottazzi,, and M.Da Rin. 2003. “Financing Entrepreneurial Firms in Europe: Facts, Issues, and Research Agenda.” CESifo Working Paper Series No 956. https://www.cesifo-group.de/DocDL/cesifo_wp958.pdf.
    • (2003)
    • Bottazzi, L.1    Da Rin, M.2
  • 12
    • 58849120945 scopus 로고    scopus 로고
    • Financing Innovation and Growth: Cash Flow, External Equity, and the 1990s R&D Boom
    • J.R.Brown,, S.M.Fazzari, and B.C.Petersen. 2009. “Financing Innovation and Growth: Cash Flow, External Equity, and the 1990s R&D Boom.” Journal of Finance 64 (1): 151–185. doi:10.1111/j.1540-6261.2008.01431.x.
    • (2009) Journal of Finance , vol.64 , Issue.1 , pp. 151-185
    • Brown, J.R.1    Fazzari, S.M.2    Petersen, B.C.3
  • 13
    • 84866990041 scopus 로고    scopus 로고
    • Do Financing Constraints Matter for R&D?
    • J.R.Brown,, G.Martinsson, and B.C.Petersen. 2012. “Do Financing Constraints Matter for R&D?” European Economic Review 56 (8): 1512–1529. doi:10.1016/j.euroecorev.2012.07.007.
    • (2012) European Economic Review , vol.56 , Issue.8 , pp. 1512-1529
    • Brown, J.R.1    Martinsson, G.2    Petersen, B.C.3
  • 14
    • 85062771348 scopus 로고    scopus 로고
    • An Empirical Evaluation of the Effects of R&D Subsidies
    • I.Busom,. 2000. “An Empirical Evaluation of the Effects of R&D Subsidies.” Economics of Innovation and New Technology 9 (2): 111–148. doi:10.1080/10438590000000006.
    • (2000) Economics of Innovation and New Technology , vol.9 , Issue.2 , pp. 111-148
    • Busom, I.1
  • 15
    • 54749128670 scopus 로고    scopus 로고
    • Financial Constraints to Innovation in the UK: Evidence from CIS2 and CIS3
    • A.Canepa,, and P.Stoneman. 2007. “Financial Constraints to Innovation in the UK: Evidence from CIS2 and CIS3.” Oxford Economics Papers 60 (4): 711–730. doi:10.1093/oep/gpm044.
    • (2007) Oxford Economics Papers , vol.60 , Issue.4 , pp. 711-730
    • Canepa, A.1    Stoneman, P.2
  • 16
    • 18744386379 scopus 로고    scopus 로고
    • Is the Growth of Small Firms Constrained by Internal Finance?
    • R.E.Carpenter,, and B.C.Petersen. 2002. “Is the Growth of Small Firms Constrained by Internal Finance?” Review of Economics and Statistics 84 (2): 298–309. doi:10.1162/003465302317411541.
    • (2002) Review of Economics and Statistics , vol.84 , Issue.2 , pp. 298-309
    • Carpenter, R.E.1    Petersen, B.C.2
  • 17
    • 84886639500 scopus 로고    scopus 로고
    • Internal Financial Constraints and Firm Productivity in China: Do Liquidity and Export Behavior Make a Difference?
    • M.Chen,, and A.Guariglia. 2013. “Internal Financial Constraints and Firm Productivity in China: Do Liquidity and Export Behavior Make a Difference?” Journal of Comparative Economics 41 (4): 1123–1140. doi:10.1016/j.jce.2013.05.003.
    • (2013) Journal of Comparative Economics , vol.41 , Issue.4 , pp. 1123-1140
    • Chen, M.1    Guariglia, A.2
  • 19
    • 77954859835 scopus 로고    scopus 로고
    • Financing Constraints and R&DD Investments of Large Corporations in Europe and the US
    • M.Cincera,, and J.Ravet. 2010. “Financing Constraints and R&DD Investments of Large Corporations in Europe and the US.” Science and Public Policy 37 (6): 455–466. doi:10.3152/030234210X508642.
    • (2010) Science and Public Policy , vol.37 , Issue.6 , pp. 455-466
    • Cincera, M.1    Ravet, J.2
  • 20
    • 0009093975 scopus 로고    scopus 로고
    • The Relationship between Firm Investment and Financial Status
    • S.Cleary,. 1999. “The Relationship between Firm Investment and Financial Status.” Journal of Finance 54 (2): 673–692. http://www.jstor.org/stable/2697723.
    • (1999) Journal of Finance , vol.54 , Issue.2 , pp. 673-692
    • Cleary, S.1
  • 21
    • 69149109297 scopus 로고    scopus 로고
    • Intangible Capital and Economic Growth
    • C.A.Corrado,, C.R.Hulten, and D.E.Sichel. 2007. “Intangible Capital and Economic Growth.” Review of Income and Wealth 55 (3): 661–685. doi:10.1111/j.1475-4991.2009.00343.x.
    • (2007) Review of Income and Wealth , vol.55 , Issue.3 , pp. 661-685
    • Corrado, C.A.1    Hulten, C.R.2    Sichel, D.E.3
  • 23
    • 78650254139 scopus 로고    scopus 로고
    • R&D Investment and Financing Constraints of Small and Medium-Sized Firms
    • D.Czarnitzki,, and H.Hottenrott. 2011. “R&D Investment and Financing Constraints of Small and Medium-Sized Firms.” Small Business Economics 36 (1): 65–83. doi:10.1007/s11187-009-9189-3.
    • (2011) Small Business Economics , vol.36 , Issue.1 , pp. 65-83
    • Czarnitzki, D.1    Hottenrott, H.2
  • 24
    • 0000832364 scopus 로고    scopus 로고
    • Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence
    • P.A.David,, B.H.Hall, and A.A.Toole. 2000. “Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence.” Research Policy 29 (4): 497–529. doi:10.1016/S0048-7333(99)00087-6.
    • (2000) Research Policy , vol.29 , Issue.4 , pp. 497-529
    • David, P.A.1    Hall, B.H.2    Toole, A.A.3
  • 25
    • 0039906479 scopus 로고
    • Finance, Innovation and Industrial Change
    • G.Dosi,. 1990. “Finance, Innovation and Industrial Change.” Journal of Economic Behaviour and Organization 13 (3): 299–319. doi:10.1016/0167-2681(90)90003-V.
    • (1990) Journal of Economic Behaviour and Organization , vol.13 , Issue.3 , pp. 299-319
    • Dosi, G.1
  • 26
    • 38349183979 scopus 로고    scopus 로고
    • Are R&D Subsidies a Substitute or a Complement to Privately Funded R&D? An Econometric Analysis at the Firm Level
    • E.Duguet,. 2004. “Are R&D Subsidies a Substitute or a Complement to Privately Funded R&D? An Econometric Analysis at the Firm Level.” Revue d'Economie Politique 114 (2): 245–274. http://www.cairn.info/revue-d-economie-politique-2004-2-page-245.htm.
    • (2004) Revue d'Economie Politique , vol.114 , Issue.2 , pp. 245-274
    • Duguet, E.1
  • 28
    • 0000319456 scopus 로고
    • “Financing Constraints and Corporate Investment.” Brookings Papers on Economic Activity No 1, 141–206
    • S.M.Fazzari,, R.G.Hubbard, and B.C.Petersen. 1988. “Financing Constraints and Corporate Investment.” Brookings Papers on Economic Activity No 1, 141–206. doi:10.2307/2534426.
    • (1988)
    • Fazzari, S.M.1    Hubbard, R.G.2    Petersen, B.C.3
  • 29
    • 40649120652 scopus 로고    scopus 로고
    • Do Public Subsidies Stimulate Private R&D Spending?
    • X.González,, and C.Pazó. 2008. “Do Public Subsidies Stimulate Private R&D Spending?” Research Policy 37 (3): 371–389. doi:10.1016/j.respol.2007.10.009.
    • (2008) Research Policy , vol.37 , Issue.3 , pp. 371-389
    • González, X.1    Pazó, C.2
  • 31
    • 33847015546 scopus 로고
    • Market Value, R&D, and Patents
    • Z.Griliches,. 1981. “Market Value, R&D, and Patents.” Economics Letters 7 (2): 183–187. doi:10.1016/0165-1765(87)90114-5.
    • (1981) Economics Letters , vol.7 , Issue.2 , pp. 183-187
    • Griliches, Z.1
  • 32
    • 84957862414 scopus 로고    scopus 로고
    • “Financing Constraints and a Firm's Decision and Ability to Innovate: Establishing Direct And Reverse Effects.” FMG Discussion Papers No 594, Financial Markets Group, London School of Economics and Political Science
    • V.Hajivassiliou,, and F.Savignac. 2007. “Financing Constraints and a Firm's Decision and Ability to Innovate: Establishing Direct And Reverse Effects.” FMG Discussion Papers No 594, Financial Markets Group, London School of Economics and Political Science. http://eprints.lse.ac.uk/4774/.
    • (2007)
    • Hajivassiliou, V.1    Savignac, F.2
  • 33
    • 84957862415 scopus 로고
    • “Investment and Research and Development at the Firm Level: Does the Source of Financing Matter?” NBER Working Paper No. 4096, National Bureau of Economic Research
    • B.H.Hall, 1992. “Investment and Research and Development at the Firm Level: Does the Source of Financing Matter?” NBER Working Paper No. 4096, National Bureau of Economic Research. http://www.nber.org/papers/w4096.pdf.
    • (1992)
    • Hall, B.H.1
  • 34
    • 84862091911 scopus 로고    scopus 로고
    • The Financing of Innovative Firms
    • B.H.Hall, 2010. “The Financing of Innovative Firms.” Review of Economics and Institutions 1 (1): 1–30. doi:10.5202/rei.v1i1.4.
    • (2010) Review of Economics and Institutions , vol.1 , Issue.1 , pp. 1-30
    • Hall, B.H.1
  • 35
    • 84872370143 scopus 로고    scopus 로고
    • The Financing of R&D and Innovation
    • Hall B.H., Rosenberg N., (eds), Chap. 14, North Holland: Elsevier
    • B.H.Hall,, and J.Lerner. 2010. “The Financing of R&D and Innovation.” Chap. 14 In Handbook of the Economics of Innovation, edited by B.H.Hall and N.Rosenberg, 609–639. North Holland: Elsevier.
    • (2010) Handbook of the Economics of Innovation , pp. 609-639
    • Hall, B.H.1    Lerner, J.2
  • 36
    • 0000201640 scopus 로고    scopus 로고
    • Are There Financing Constraints for R&D and Investment in German Manufacturing Firms?
    • D.Harhoff,. 1998. “Are There Financing Constraints for R&D and Investment in German Manufacturing Firms?” Annales d'Économie et de Statistique 49/50: 421–456. http://www.jstor.org/stable/20076124.
    • (1998) Annales d'Économie et de Statistique , vol.49-50 , pp. 421-456
    • Harhoff, D.1
  • 37
    • 84925292023 scopus 로고    scopus 로고
    • Estimating the Additionality of R&D Subsidies Using Proposal Evaluation Data to Control for Research Intentions
    • M.S.Henningsen,, T.Hægeland, and J.Møen. 2015. “Estimating the Additionality of R&D Subsidies Using Proposal Evaluation Data to Control for Research Intentions.” The Journal of Technology Transfer 40 (2): 227–251. doi:10.1007/s10961-014-9337-z.
    • (2015) The Journal of Technology Transfer , vol.40 , Issue.2 , pp. 227-251
    • Henningsen, M.S.1    Hægeland, T.2    Møen, J.3
  • 38
    • 84957862416 scopus 로고    scopus 로고
    • “4th European Conference on Corporate R&D and Innovation: Financing R&D and Innovation for Corporate Growth in the EU (CONCORDi-2013).” JRC-IPTS, European Commission, EUR 26138
    • F.Hervás,, P.Moncada-Paternò-Castello, S.Montresor, and A.Vezzani. 2013. “4th European Conference on Corporate R&D and Innovation: Financing R&D and Innovation for Corporate Growth in the EU (CONCORDi-2013).” JRC-IPTS, European Commission, EUR 26138.
    • (2013)
    • Hervás, F.1    Moncada-Paternò-Castello, P.2    Montresor, S.3    Vezzani, A.4
  • 39
    • 0028560578 scopus 로고
    • “R&D and Internal Finance: A Panel Study of Small Firms in High-Tech Industries.” Review of Economics and Statistics 76 (1): 38–51
    • C.P.Himmelberg,, and B.C.Petersen. 1994. “R&D and Internal Finance: A Panel Study of Small Firms in High-Tech Industries.” Review of Economics and Statistics 76 (1): 38–51. http://www.jstor.org/stable/2109824.
    • (1994)
    • Himmelberg, C.P.1    Petersen, B.C.2
  • 40
    • 84883228177 scopus 로고    scopus 로고
    • Innovative Capability and Financing Constraints for Innovation: More Money, More Innovation?
    • H.Hottenrott,, and B.Peters. 2012. “Innovative Capability and Financing Constraints for Innovation: More Money, More Innovation?” Review of Economics and Statistics 94 (4): 1126–1142. doi:10.1162/REST_a_00227.
    • (2012) Review of Economics and Statistics , vol.94 , Issue.4 , pp. 1126-1142
    • Hottenrott, H.1    Peters, B.2
  • 41
    • 84957862418 scopus 로고    scopus 로고
    • “Financing Constraints as Barriers to Innovation: Evidence from R&D Grants to Energy Startups.” mimeo
    • S.T.Howell, 2015. “Financing Constraints as Barriers to Innovation: Evidence from R&D Grants to Energy Startups.” mimeo. http://economics.yale.edu/sites/default/files/howell_innovation_finance_jmp_jan7.pdf.
    • (2015)
    • Howell, S.T.1
  • 42
    • 0032367990 scopus 로고    scopus 로고
    • Investment and Capital Market Imperfections: A Switching Regression Approach Using U.S. Firm Panel Data
    • X.Hu,, and F.Schiantarelli. 1998. “Investment and Capital Market Imperfections: A Switching Regression Approach Using U.S. Firm Panel Data.” Review of Economics and Statistics 80 (3): 466–479. doi:10.1162/003465398557564.
    • (1998) Review of Economics and Statistics , vol.80 , Issue.3 , pp. 466-479
    • Hu, X.1    Schiantarelli, F.2
  • 43
    • 0001066475 scopus 로고
    • Agency Cost of Free Cash Flow, Corporate Finance, and Takeovers
    • M.C.Jensen, 1986. “Agency Cost of Free Cash Flow, Corporate Finance, and Takeovers.” American Economic Review 76 (2): 323–339. doi:10.2139/ssrn.99580.
    • (1986) American Economic Review , vol.76 , Issue.2 , pp. 323-339
    • Jensen, M.C.1
  • 44
    • 44649197264 scopus 로고
    • The Theory of the Firm: Managerial Behavior, Agency Cost, and Ownership Structure
    • M.C.Jensen,, and W.H.Meckling. 1976. “The Theory of the Firm: Managerial Behavior, Agency Cost, and Ownership Structure.” Journal of Financial Economics 3 (4): 305–360. doi:10.1016/0304-405X(76)90026-X.
    • (1976) Journal of Financial Economics , vol.3 , Issue.4 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 45
    • 0003112060 scopus 로고    scopus 로고
    • Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?
    • S.N.Kaplan,, and L.Zingales. 1997. “Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?” Quarterly Journal of Economics 112 (1): 169–215. http://www.jstor.org/stable/2951280.
    • (1997) Quarterly Journal of Economics , vol.112 , Issue.1 , pp. 169-215
    • Kaplan, S.N.1    Zingales, L.2
  • 46
    • 0039011997 scopus 로고    scopus 로고
    • Investment-Cash Flow Sensitivities are not Valid Measures of Financing Constraints
    • S.N.Kaplan,, and L.Zingales. 2000. “Investment-Cash Flow Sensitivities are not Valid Measures of Financing Constraints.” Quarterly Journal of Economics 115 (2): 707–712. doi:10.1162/003355300554782.
    • (2000) Quarterly Journal of Economics , vol.115 , Issue.2 , pp. 707-712
    • Kaplan, S.N.1    Zingales, L.2
  • 47
    • 34248645054 scopus 로고
    • Finance, Entrepreneurship and Growth: Theory and Evidence
    • R.G.King,, and R.Levine. 1993. “Finance, Entrepreneurship and Growth: Theory and Evidence.” Journal of Monetary Economics 32 (3): 513–542. doi:10.1016/0304-3932(93)90028-E.
    • (1993) Journal of Monetary Economics , vol.32 , Issue.3 , pp. 513-542
    • King, R.G.1    Levine, R.2
  • 48
    • 84957862419 scopus 로고    scopus 로고
    • “Dynamic Financial Constraints and Innovation: Evidence from the UK Innovation Surveys.” Paper presented at the 4th European Conference on Corporate R&D and Innovation CONCORDi-2013, Seville (Spain), September 26–27
    • H.Lahr,, and A.Mina. 2013. “Dynamic Financial Constraints and Innovation: Evidence from the UK Innovation Surveys.” Paper presented at the 4th European Conference on Corporate R&D and Innovation CONCORDi-2013, Seville (Spain), September 26–27.
    • (2013)
    • Lahr, H.1    Mina, A.2
  • 49
    • 84957862420 scopus 로고    scopus 로고
    • “Patent Use Under Financial Constraints.” Academy of Management Proceedings, Technology and Innovation Management
    • A.Luzzi, 2014. “Patent Use Under Financial Constraints.” Academy of Management Proceedings, Technology and Innovation Management, doi:10.5465/AMBPP.2014.17221.
    • (2014)
    • Luzzi, A.1
  • 50
    • 84877040439 scopus 로고    scopus 로고
    • Credit Constraints, Heterogeneous Firms, and International Trade
    • K.Manova,. 2013. “Credit Constraints, Heterogeneous Firms, and International Trade.” Review of Economic Studies 80 (2): 711–744. doi:10.1093/restud/rds036.
    • (2013) Review of Economic Studies , vol.80 , Issue.2 , pp. 711-744
    • Manova, K.1
  • 51
    • 84881350589 scopus 로고    scopus 로고
    • The Demand and Supply of External Finance for Innovative Firms
    • A.Mina,, H.Lahr, and A.Hughes. 2013. “The Demand and Supply of External Finance for Innovative Firms.” Industrial and Corporate Change 22 (4): 869–901. doi:10.1093/icc/dtt020.
    • (2013) Industrial and Corporate Change , vol.22 , Issue.4 , pp. 869-901
    • Mina, A.1    Lahr, H.2    Hughes, A.3
  • 52
    • 84957862421 scopus 로고    scopus 로고
    • “Financing R&D and Innovation for Corporate Growth: What new evidence should policymakers know?” JRC-IPTS, European Commission. EUR 26272
    • P.Moncada-Paternò-Castello,, A.Vezzani, F.Hervás, and S.Montresor. 2014. “Financing R&D and Innovation for Corporate Growth: What new evidence should policymakers know?” JRC-IPTS, European Commission. EUR 26272.
    • (2014)
    • Moncada-Paternò-Castello, P.1    Vezzani, A.2    Hervás, F.3    Montresor, S.4
  • 53
    • 84957862422 scopus 로고    scopus 로고
    • “Intangible Investments and Innovation Propensity: Evidence from the Innobarometer 2013.” IPTS Working Papers on Corporate R&D and Innovation No 03/2014
    • S.Montresor,, and A.Vezzani. 2014. “Intangible Investments and Innovation Propensity: Evidence from the Innobarometer 2013.” IPTS Working Papers on Corporate R&D and Innovation No 03/2014.
    • (2014)
    • Montresor, S.1    Vezzani, A.2
  • 54
    • 84957862423 scopus 로고    scopus 로고
    • “Investment and R&D in France and the United States.” NBER Working Papers 8038, National Bureau of Economic Research
    • B.Mulkay,, B.H.Hall, and J.Mairesse. 2000. “Investment and R&D in France and the United States.” NBER Working Papers 8038, National Bureau of Economic Research. http://core.ac.uk/download/pdf/6645885.pdf.
    • (2000)
    • Mulkay, B.1    Hall, B.H.2    Mairesse, J.3
  • 55
    • 42149173382 scopus 로고    scopus 로고
    • The Impact of Financial Constraints on Firm Survival and Growth
    • P.Musso,, and S.Schiavo. 2008. “The Impact of Financial Constraints on Firm Survival and Growth.” Journal of Evolutionary Economics 18 (2): 135–149. doi:10.1007/s00191-007-0087-z.
    • (2008) Journal of Evolutionary Economics , vol.18 , Issue.2 , pp. 135-149
    • Musso, P.1    Schiavo, S.2
  • 56
    • 48549110620 scopus 로고
    • Corporate Financing and Investment Decisions When Firms have Information that Investors Do Not Have
    • S.C.Myers,, and N.S.Majluf. 1984. “Corporate Financing and Investment Decisions When Firms have Information that Investors Do Not Have.” Journal of Financial Economics 13 (2): 187–221. doi:10.1016/0304-405X(84)90023-0.
    • (1984) Journal of Financial Economics , vol.13 , Issue.2 , pp. 187-221
    • Myers, S.C.1    Majluf, N.S.2
  • 59
    • 84860353307 scopus 로고    scopus 로고
    • Financing Technology-Based Firms in Europe: What Do We Know?
    • V.Revest,, and A.Sapio. 2012. “Financing Technology-Based Firms in Europe: What Do We Know?” Small Business Economics 39 (1): 179–205. doi:10.1007/s11187-010-9291-6.
    • (2012) Small Business Economics , vol.39 , Issue.1 , pp. 179-205
    • Revest, V.1    Sapio, A.2
  • 60
    • 50349091906 scopus 로고    scopus 로고
    • The Impact of Financial Constraints on Innovation: What Can Be Learned from a Direct Measure?
    • F.Savignac,. 2008. “The Impact of Financial Constraints on Innovation: What Can Be Learned from a Direct Measure?” Economics of Innovation and New Technology 17 (6): 553–569. doi:10.1080/10438590701538432.
    • (2008) Economics of Innovation and New Technology , vol.17 , Issue.6 , pp. 553-569
    • Savignac, F.1
  • 61
    • 33846486696 scopus 로고    scopus 로고
    • Patents, Firm Size and Financial Constraints: an Empirical Analysis for a Panel of Italian Manufacturing Firms
    • G.Scellato,. 2007. “Patents, Firm Size and Financial Constraints: an Empirical Analysis for a Panel of Italian Manufacturing Firms.” Cambridge Journal of Economics 31 (1): 55–76. doi:10.1093/cje/bel006.
    • (2007) Cambridge Journal of Economics , vol.31 , Issue.1 , pp. 55-76
    • Scellato, G.1
  • 62
    • 0030449913 scopus 로고    scopus 로고
    • Financial Constraints and Investment: Methodological Issues and International Evidence
    • F.Schiantarelli,. 1996. “Financial Constraints and Investment: Methodological Issues and International Evidence.” Oxford Review of Economic Policy 12 (2): 70–89. doi:10.1093/oxrep/12.2.70.
    • (1996) Oxford Review of Economic Policy , vol.12 , Issue.2 , pp. 70-89
    • Schiantarelli, F.1
  • 63
    • 76549103235 scopus 로고    scopus 로고
    • Cash Breeds Success: The Role of Financing Constraints in Patent Races
    • E.Schroth,, and D.Szalay. 2010. “Cash Breeds Success: The Role of Financing Constraints in Patent Races.” Review of Finance 14 (1): 73–118. doi:10.1093/rof/rfp020.
    • (2010) Review of Finance , vol.14 , Issue.1 , pp. 73-118
    • Schroth, E.1    Szalay, D.2
  • 64
    • 84957862424 scopus 로고    scopus 로고
    • “The Financing Structure of Corporate R&D-Evidence from Regression Discontinuity Design.” mimeo
    • N.Serrano-Velarde, 2008. “The Financing Structure of Corporate R&D-Evidence from Regression Discontinuity Design.” mimeo. http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.192.7404&rep=rep1&type=pdf.
    • (2008)
    • Serrano-Velarde, N.1
  • 65
    • 38549086633 scopus 로고
    • Profiting from Technological Innovation: Implications for Integration, Collaboration, Licensing and Public Policy
    • D.J.Teece, 1986. “Profiting from Technological Innovation: Implications for Integration, Collaboration, Licensing and Public Policy.” Research Policy 15 (6): 285–305. doi:10.1016/0048-7333(86)90027-2.
    • (1986) Research Policy , vol.15 , Issue.6 , pp. 285-305
    • Teece, D.J.1
  • 66
    • 33645738584 scopus 로고    scopus 로고
    • Financial Constraints Risk
    • T.M.Whited,, and G.Wu. 2006. “Financial Constraints Risk.” Review of Financial Studies 19 (2): 531–559. doi:10.1093/rfs/hhj012.
    • (2006) Review of Financial Studies , vol.19 , Issue.2 , pp. 531-559
    • Whited, T.M.1    Wu, G.2
  • 67
    • 70449411619 scopus 로고    scopus 로고
    • Beggar thy Neighbor? The In-State, Out-Of-State, and Aggregate Effects of R&D Tax Credits
    • D.J.Wilson, 2009. “Beggar thy Neighbor? The In-State, Out-Of-State, and Aggregate Effects of R&D Tax Credits.” The Review of Economics and Statistics 91 (2): 431–436. doi:10.1162/rest.91.2.431.
    • (2009) The Review of Economics and Statistics , vol.91 , Issue.2 , pp. 431-436
    • Wilson, D.J.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.