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Industrial research versus development investment : the implications of financial constraints

Czarnitzki, Dirk; Hottenrott, Hanna; Thorwarth, Susanne - 2009

Previous literature provided evidence on financing constraints for investment in R&D activities due to capital market imperfections and special features of R&D investments. Moreover, it has been shown that a shift in capital structure towards more debt, results in a reduction of R&D investments....

Persistent link: https://www.econbiz.de/10003881344

Collaborative R&D as a strategy to attenuate financing constraints

Czarnitzki, Dirk; Hottenrott, Hanna - 2012

The ability of firms to establish R&D collaborations that combine resources, exploit complementary know-how, and internalize R&D externalities has been shown to be of high importance for the successful creation and implementation of new knowledge. We argue in this article that collaborative R&D...

Persistent link: https://www.econbiz.de/10009572470

Patents as quality signals? : the implications for financing constraints on R&D

Czarnitzki, Dirk; Hall, Bronwyn H.; Hottenrott, Hanna - 2014

Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital for financing R&D externally, resulting in financing constraints on R&D especially for...

Persistent link: https://www.econbiz.de/10010341887

Patents as quality signals? : the implications for financing constraints on R&D

Czarnitzki, Dirk; Hall, Bronwyn H.; Hottenrott, Hanna - 2014

Persistent link: https://www.econbiz.de/10010252810

(International) R&D collaboration and SMEs : the effectiveness of targeted public R&D support schemes

Hottenrott, Hanna; Lopes Bento, Cindy - 2012

collaborate internationally as well as for SMEs. -- Innovation Policy ; Subsidies ; R&D ; SMEs ; International Collaboration …

Persistent link: https://www.econbiz.de/10009686768

(International) R&D collaboration and SMEs : the effectiveness of targeted public R&D support schemes

Hottenrott, Hanna; Lopes Bento, Cindy - 2013

test whether the policy design aiming at incentivizing (international) collaboration and R&D in SMEs achieves input as well … internationally collaborating SMEs. We further evaluate the different impact of privately financed and publicly-induced R&D investment … policyinduced R&D investment on sales from market novelties is highest for international collaborators as well as for SMEs. …

Persistent link: https://www.econbiz.de/10010212407

R&D partnerships and innovation performance : can there be too much of a good thing?

Hottenrott, Hanna; Lopes Bento, Cindy - 2014

abroad range of manufacturing and service sectors and of which 86% are SMEs, we indeed find that increasing the share of …

Persistent link: https://www.econbiz.de/10010440100

R&D partnerships and innovation performance : can there be too much of a good thing?

Hottenrott, Hanna; Lopes Bento, Cindy - 2014

firms' total R&D projects in a sample of mostly small and medium-sized firms (SMEs). We can confirm previous findings in …

Persistent link: https://www.econbiz.de/10010383763

Direct and cross-scheme effects in a research and development subsidy program

Hottenrott, Hanna; Lopes Bento, Cindy; Veugelers, Reinhilde - 2014

This study investigates the effects of an R&D subsidy scheme on participating firms' net R&D investment. Making use of a specific policy design in Belgium that explicitly distinguishes between research and development grants, we estimate direct and cross-scheme effects on research versus...

Persistent link: https://www.econbiz.de/10010440096

R&D subsidies and firms' cost of debt

Demeulemeester, Sarah; Hottenrott, Hanna - 2015

Financing research and development (R&D) through loans is usually a costly endeavor. Information asymmetry, outcome uncertainty and low collateral value tend to increase the cost of debt. Based on a large panel of heterogeneous firms, this study shows that recipients of public R&D grants, on...

Persistent link: https://www.econbiz.de/10011381138