recipients' investment is less sensitive to internal liquidity. -- Research and development ; liquidity constraints ; innovation …

and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation … export and innovation activities to become substitutes although they are generally natural complements. …

's innovation and export activities, using unique firm survey data which provides direct measures for innovations and firm … export and innovation activities to become substitutes although they are generally natural complements. -- Innovation …

's innovation and export activities, using unique firm survey data which provides direct measures for innovations and firm … export and innovation activities to become substitutes although they are generally natural complements …

This study presents a novel empirical approach to identify financing constraints for innovation based on the concept of …. If they selected additional innovation projects, they must have had some unexploited investment opportunities that were … not profitable using more costly external finance. We attribute constraints for innovation not only to lacking financing …

This study presents a novel empirical approach to identify financing constraints for innovation based on the idea of an … alternatives of use. If they choose additional innovation projects they must have had some unexploited investment opportunities … attribute constraints for innovation not only to lacking financing, but also to firms' innovative capability. Econometric …

This study presents a novel empirical approach to identify financing constraints for innovation based on the concept of … alternatives of use. If they selected additional innovation projects, they must have had some unexploited investment opportunities … that were not profitable using more costly external finance. We attribute constraints for innovation not only to lacking …

affect investments in innovation projects as such projects are typically characterized by a high degree of uncertainty …, complexity and specificity. Financing innovation externally is thus likely to be more costly compared to financing of other … investment. Hence, internal sources of financing are crucial for the implementation of innovation projects. However, internal …