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Does innovation affect credit access? : new empirical evidence from Italian small business lending

Bellucci, Andrea; Favaretto, Ilario; Giombini, Germana - 2014

In this paper we analyze the access to credit of innovative firms on the price and non-price dimensions of bank lending. Using information from two datasets, we use a propensity score matching procedure to estimate the impact of the innovative nature of firms on: (a) loan interest rates; (b) the...

Persistent link: https://www.econbiz.de/10010419911

Determinants of firms' efficiency: do innovations and finance constraints matter? : the case of European SMEs

Bonanno, Graziella; Ferrando, Annalisa; Rossi, Stefania - 2020

This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation activities. We enrich our understanding on firms' performance by adopting the stochastic frontier approach (SFA), which allows us to estimate profit functions and to obtain...

Persistent link: https://www.econbiz.de/10012241105

Credit scoring in SME asset-backed securities : an Italian case study

Bedin, Andrea; Billio, Monica; Costola, Michele; … - 2019

We investigate the default probability, recovery rates and loss distribution of a portfolio of securitised loans granted to Italian small and medium enterprises (SMEs). To this end, we use loan level data information provided by the European DataWarehouse platform and employ a logistic...

Persistent link: https://www.econbiz.de/10012111366

Self-financing of traditional and R&D investments : evidence from Italian SMEs

Brighi, Paola; Patuelli, Roberto; Torluccio, Giuseppe - 2012

Self-financing has often been seen as an important source for research-and-development (R&D) funding. However, an in …-depth comparison between the determinants of self-financing in the case of traditional investments versus those in R&D has not been … a wide number of financial variables in driving the rate of self-financing of firms, in both traditional and R …

Persistent link: https://www.econbiz.de/10011731350