Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/126100
Authors: 
Schäfer, Dorothea
Stephan, Andreas
Solórzano Mosquera, Jennifer
Year of Publication: 
2015
Series/Report no.: 
DIW Discussion Papers 1536
Abstract: 
Using the 2007 Mannheim innovation survey, we investigate whether family firms are more financially constrained than other firms and how this affects both innovation input as well as innovation outcomes such as market and firm novelties or process innovations. Based on the CDM framework, estimation of the recursive system of equations shows that family businesses are more likely to be constrained and have, on average, lower innovation input. Surprisingly, however, this doesnot reduce their innovation outcomes as, on average, family firms have the same level of innovation outcomes as nonfamily firms.
Subjects: 
Innovation
Capability
Financing Constraints
Family Firms
CDM
JEL: 
D32
G32
O32
Document Type: 
Working Paper

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