Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/107650
Authors: 
Bellucci, Andrea
Favaretto, Ilario
Giombini, Germana
Year of Publication: 
2014
Series/Report no.: 
IAW-Diskussionspapiere 104
Abstract: 
In this paper we analyze the access to credit of innovative firms on the price and non-price dimensions of bank lending. Using information from two datasets, we use a propensity score matching procedure to estimate the impact of the innovative nature of firms on: (a) loan interest rates; (b) the probability of having to post collateral; and (c) the probability of overdrawing. Our analysis reveals that banks trade off higher interest rates and lower collateral requirements for firms involved in innovative processes. Further, innovative firms have a lower probability of being credit rationed than their non-innovative peers.
Subjects: 
innovative firms
interest rate
firm's financing
relationship lending
JEL: 
D82
E43
D40
G21
Document Type: 
Working Paper

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