Public financial support for firm-level Research and Innovation (R&I) can generate important socio-economic returns. This is especially true if firms use this support to develop radical innovation, defined as new-to-market goods and services. However, radical innovation is risky, and prone to...

Recent regulatory efforts aim at lowering the cyclicality of bank lending because of its potential detrimental effects on financial stability and the real economy. We investigate the cyclicality of SME lending by local banks with vs. without a public mandate, controlling for location, size, loan...

This paper deals with the conditions of effective transfer of technology from Universities and public research institutions to small and medium-sized enterprises. The theoretical and empirical analyses lead to the conclusion that the chances of improving the technology transfer does not lie in a...

In diesem Artikel prognostizieren wir Insolvenzwahrscheinlichkeiten von kleinen und mittleren Unternehmen, die bislang noch keine hinreichende Beachtung gefunden haben, obwohl diese Unternehmen besonders insolvenzgefährdet sind. Die Schwierigkeit bei der Insolvenzprognose von kleinen und...

Special stock market segments for small company shares were established by all major European stock exchanges during the 1980's. After showing a remarkable success during the first years of their existence - both in the primary as well as in the secondary market - these segments today suffer...

Using a unique and comprehensive data set on the two largest economies of the Eurozone - France and Germany - this paper first proceeds to a computation of the Gordy formula relaxing the ad hoc sizedependent constraints of the Basel formulas. Our study contributes to Article 501 of the Capital...