This study tests for financial constraints on Ramp;D investment and how they differ from capital investment. To identify constraints in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by mark-ups, are more decisive for Ramp;D...

The literature on within-firm organizational change and productivity suggests that firms can make more efficient use of certain technologies if complementary forms of organization are adopted. This issue may be of even greater importance for the case of greenhouse gas (GHG) abatement...

Economic theory suggests that financing constraints may occur due to capital market imperfections. These particularly affect investments in innovation projects as such projects are typically characterized by a high degree of uncertainty, complexity and specificity. Financing innovation...

R&D collaboration facilitates pooling of complementary skills, learning from the partner as well as sharing risks and costs. Research therefore repeatedly stressed the positive relationship between collaborative R&D and innovation performance. Fewer studies addressed potential drawbacks of...

We analyze financial constraints for Ramp;D, where we account for heterogeneity among investments which has been neglected in previous literature. According to economic theory, investments should be distinguished by their degree of uncertainty, e.g. routine Ramp;D versus cutting-edge Ramp;D....

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...

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...

This study shows for a large sample of R&D-active manufacturing firms that collaborative R&D has a positive effect on firms' patenting in terms of both quantity and quality. When distinguishing between alliances that aim at joint creation of new knowledge and alliances that aim at exchange of...

Significant policy effort is devoted to stimulate the development, adoption and diffusion of environmentally-friendly technology. Sceptics worry about the effects of regulation-induced environmental technology on firms' competitiveness. Since innovation is a crucial productivity driver, a...