This essay studies the optimal timing for a firm to adopt a new process innovation in the presence of learning. A …

firm's decision between a product and process innovation. When firms have to choose between the two types of innovation, it … is demonstrated that both firms undertake the product innovation when the competition is intense. For intermediate levels … of competition, the firms choose different investment projects, and for less intense competition, the firms pursue cost …

Department for Human Capital and Innovation. It was completed in June 2014 and accepted as a doctoral thesis by the Department of …, while one is concerned with determinants of investment in ICT networks. The study uses German firm-level data and regional …

set on innovation for a large number of Italian firms over the 1990's. There is evidence that banking development affects … the probability of process innovation, particularly for small firms and for firms in high(er) tech sectors and in sectors … more dependent upon external finance. The evidence for product innovation is weaker. There is also some evidence that …

?s Investment Tests (IT) during the years 1988-1998, we create a panel with information on investment, innovation activity and … financing conditions. Financial constraints affect the distribution of investment over time in a fundamental way. Following a … on Schworm?s (1980) model of optimal investment under financial constraints, we use it to test the empirical content of …

This study examines the consequences of loan denials for the investment performance of small and medium-sized German … investment than non-innovative companies. The non-randomness of loan denials is controlled for with a selection equation …