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dc.contributor.authorCzarnitzki, Dirken_US
dc.contributor.authorBinz, Hanna L.en_US
dc.date.accessioned2009-02-16T15:09:32Z-
dc.date.available2009-02-16T15:09:32Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/24743-
dc.description.abstractThis study tests for financial constraints on R&D investment and how they differ from capital investment. To identify constraints in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by mark-ups, are more decisive for R&D than for capital investment. For external constraints, we find a monotonic relationship between the level of constriction and firm size for both types of investment. Thus, external constraints turn out to be more binding with decreasing firm size. On the contrary, we do not find such monotonic relationships for internal constraints. Differentiation by firms? age does not support lower constraints for older firms.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 08-047en_US
dc.subject.jelO31en_US
dc.subject.jelO32en_US
dc.subject.ddc330en_US
dc.subject.keywordR&D Investmenten_US
dc.subject.keywordCapital Investmenten_US
dc.subject.keywordFinancial Constraintsen_US
dc.subject.keywordPanel Dataen_US
dc.subject.keywordCensored Regression Modelsen_US
dc.subject.stwForschungsfinanzierungen_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwIndustrielle Forschungen_US
dc.subject.stwInvestitionen_US
dc.subject.stwKreditwürdigkeiten_US
dc.subject.stwDeutschlanden_US
dc.titleR&D Investment and Financing Constraints of Small and Medium-Sized Firmen_US
dc.typeWorking Paperen_US
dc.identifier.ppn571860885en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:7357-
Appears in Collections:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

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