Do financial constraints hold back innovation and growth?: Evidence on the role of public policy

By Ari Hyytinen, O. Toivanen. 2005

448 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/75bb2738c9a759ce56b3b82e023da7bbf2e3e26e

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Citations in the corpus

Discrimination, Social Capital, and Financial Constraints: The Case of Viet Nam (2017, background): “It has been argued that ﬁrms, especially small ﬁrms, often face ﬁnancial constraints when they conduct research and development and innovation projects (e.g., Beck & Demirguc-Kunt, 2006; Hyytinen & Toivanen, 2005).”
A supply chain sustainability innovation framework and evaluation methodology (2018, background): “…sustainable innovation as firms cannot innovative if they’re not financially sound, since most if not all, innovations start with research and development (R & D) activities which come with significant investment cost element (Hyytinen and Toivanen 2005; Canepa and Stoneman 2007; Savignac 2008).”
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.”
Subsidies, financial constraints and firm innovative activities in emerging economies (2017, background): “…holding) are interacted with receipt (or not) of public funding in the last 3 years, i.e. with Subsidy and No Subsidy.18 This approach, similar to Hyytinen and Toivanen (2005), allows the financial variable to impact firm innovation according to receipt (or not) of subsidies.19 Panel A reports…”
Revisiting the entrepreneur gender–performance relationship: a firm perspective (2014, background): “government funding (Hyytinen and Toivanen 2005), and two industry dummies to control for service sectors (Contractor et al.”
(International) R&D Collaboration and SMEs: The effectiveness of targeted public R&D support schemes (2014, background): “However, if internal financing is limited, as is often the case especially for young and small- and medium-sized firms (SMEs), R&D projects may be foregone if these firms face binding financing constraints in capital markets (see Berger and Udell, 2002; Carpenter and Petersen, 2002; Hyytinen and Toi”
Innovation and Family Ownership: Empirical Evidence from India (2014, background): “Therefore, well-developed financial systems are desirable for innovation (Hyytinen & Toivanen, 2005).”