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dc.contributor.authorCzarnitzki, Dirken
dc.contributor.authorBinz, Hanna L.en
dc.date.accessioned2009-02-16T15:09:32Z-
dc.date.available2009-02-16T15:09:32Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x08-047en
dc.subject.jelO31en
dc.subject.jelO32en
dc.subject.ddc330en
dc.subject.keywordR&D Investmenten
dc.subject.keywordCapital Investmenten
dc.subject.keywordFinancial Constraintsen
dc.subject.keywordPanel Dataen
dc.subject.keywordCensored Regression Modelsen
dc.subject.stwForschungsfinanzierungen
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwIndustrielle Forschungen
dc.subject.stwInvestitionen
dc.subject.stwKreditwürdigkeiten
dc.subject.stwDeutschlanden
dc.titleR&D Investment and Financing Constraints of Small and Medium-Sized Firm-
dc.typeWorking Paperen
dc.identifier.ppn571860885en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:7357en

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