Research and Development in Small and Medium-Sized Enterprises: The Role of Financial Constraints and Public Funding

By Dirk Czarnitzki. 2006

248 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/70415bbdf8f3f8b5945d978b513b97c2bae82e32

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Citations in the corpus

Financial Constraints: Routine Versus Cutting Edge R&D Investment (2011, unknown): “See Tables A.4 and A.5.”
Policy-Induced Environmental Technology and Inventive Efforts: Is There a Crowding Out? (2015, background): “Firms located in Eastern Germany (EAST) may show differences due to historical developments and due to extensive general subsidy programs to foster innovation in Eastern Germany (see for instance Czarnitzki 2006).”
Do subsidies have positive impacts on R&D and innovation activities at the firm level? (2009, methodology): “A more rigorous analysis would include the firms that do not do R&D as well as more financial variables, such as firms’ credit index included by Czarnitzki (2006).”
Access to finance for innovative SMEs since the financial crisis (2015, result): “Canepa and Stoneman (2007) suggest that finance is more likely to be a factor hampering innovation for small firms and those in high technology sectors, a finding echoed by studies using different datasets (Czarnitzki, 2006).”
Business R&D and the Interplay of R&D Subsidies and Product Market Uncertainty (2007, background): “Two exceptions are Hyytinen and Toivanen (2005) and Czarnitzki (2006), who find that R&D subsidies reduce the underinvestment problem stemming from financial constraints.”
R&D investment and financing constraints of small and medium-sized firms (2011, background): “Recent literature indeed provides evidence for the fact that young or small firms face financial constraints (Petersen and Rajan 1995, Berger and Udell 2002, Carpenter and Petersen 2002, Czarnitzki 2006).”
The Impact of Financial Constraints on Innovation: What Can Be Learned from a Direct Measure? (2008, methodology): “To discriminate between likely nancially constrained and unconstrained rms, a priori criteria ( rm size, dividend policy, etc...) or indirect indicators of the rm s nancial reliability such as credit-rating index (Czarnitzki 2006) are used.”
NO DEEP POCKETS: SOME STYLIZED EMPIRICAL RESULTS ON FIRMS' FINANCIAL CONSTRAINTS (2010, unknown): “Czarnitzki (2006), despite being a crosssectional study and resorting to measures such as price–cost margin (a proxy for cash flow), credit ratings and public funding, also finds that, in the West German”
Innovative Capability and Financing Constraints for Innovation: More Money, More Innovation? (2012, unknown): “Concerns regarding the potential endogeneity of the credit rating have been discussed in detail in Czarnitzki and Hottenrott (2011a).”
Public R&D Policies and Private R&D Investment: A Survey of the Empirical Evidence (2015, background): “Comparing the private R&D effects of EU versus national grants, using a sample of German firms, Czarnitzki and Lopes Bento (2011) conclude that the former yield higher effects than the latter, if funding is received from only one of the two sources. Two reasons are suggested: First, EU grants may on”
Innovation success of non-R&D-performers: substituting technology by management in SMEs (2009, unknown): “Lack of collaterals and information asymmetries on R&D project perspectives raise costs of external funding (see Freel, 2007; Czarnitzki, 2006; Tiwari et al., 2007).”
Financing constraints and investments in R&D: Evidence from Indian manufacturing firms (2015, unknown): “In a similar vein, Czarnitzki (2006) find that West German firms are sensitive to internal and external resources while there was no evidence of financial constraints for East German firms.”
The link between public support and private r&d effort: what is the optimal subsidy? (2011, unknown): “…of the firm, including size, sector and location, in examining possible differences in the effects of R&D subsidies (Lach, 2002; Czarnitizki and Fier, 2002; Czarnitzki, 2006; González et al., 1 Note also that we restrict ourselves to the effect of the subsidy on a firm's own R&D expenditures.”
R&D in SMEs: a paradox? (2009, background): “As an example, SMEs generally tend to underinvest in R&D because of a lack of knowledge about how and where to acquire the necessary competence; by the same token, technological suppliers often demonstrate a poor understanding of their actual competence needs (Czarnitzki 2006; Garcı́a-Quevedo and Ma”
Value for Money? New Microeconometric Evidence on Public R&D Grants in Flanders (2012, methodology): “Czarnitzki (2003), The effects of public R&D subsidies on firms' innovation activities: the case of Eastern Germany, Journal of Business and Economic Statistics 21(2), 226-236.”
R&D drivers and age: : Are young firms different? (2014, background): “First, young firms typically have yet to develop a reputation and their sources of collateral are scarce - two factors that are important in mitigating capital market imperfections (see Beck and Demirgüç-Kunt, 2006; Czarnitzki, 2006).”
R&D subsidies and private R&D expenditures: evidence from Italian manufacturing data (2011, background): “Hence, particularly when one considers the microeconomic inefficiencies inherent in innovation, grants may be an important way of helping firms to overcome their financial constraints (Hall 2002; Hyytinen and Toivanen 2005; Czarnitzki 2006; Binz and Czarnitzki 2008).”