The paper studies the impact of firms’ over-indebtedness on innovation. First, we build up an over-indebtedness index which takes account of the firm’s level and structure of the debt as well as of its sustainability. Secondly, we investigate to what extent over-indebtedness explains...

This paper analyses the influence of universities on Italian firms’ probability to innovate. Using firm-level data, we focus on institutionalised technology transfer (TT) activities in universities, namely spin-offs, patents and research contracts. Results show that TT activities play a...