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Funding gap for inn...
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Dastory, Linda,1985-KTH,Nationalekonomi
(författare)
Funding gap for innovation and firm size: an inverted u-shape relationship
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Nummerbeteckningar
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LIBRIS-ID:oai:DiVA.org:kth-249552
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https://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-249552URI
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Språk:engelska
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Sammanfattning på:engelska
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Ämneskategori:vet swepub-contenttype
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Ämneskategori:ovr swepub-publicationtype
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QC 20190429
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Using the German Community Innovation Survey, we identify financially constrained firms using an ideal test. Contrary to previous studies, we find that the relationship between financial constraints and firm size is characterised by an inverted u-shape and that the group of medium-sized firms has the largest funding gaps. This last finding is explained by the fact that these firms have high innovation capabilities but, at the same time, face high capital costs. Furthermore, we test what consequences funding gaps have for subsequent productivity growth. We find negative effects of funding gaps on productivity, but only for investment in tangible capital, not innovation.
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KTHNationalekonomi
(creator_code:org_t)
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