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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
estimate the finance-investment link, we find that SMEs and large enterprises show a different financing behaviour for their … investment activity. The results suggest that SMEs' tangible asset investment is positively related to the use of bank finance …
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innovation - are more common among young SMEs, while innovators - i.e. firms that do R&D and introduce new products, processes or … new to the market. To further explore why young SMEs are not more active in innovation, we explore their access to finance … partly addressing the external financing access problem for leading innovators, but not for young SMEs. …
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This paper investigates whether financial obstacles, and, more generally, financial pressure faced by firms, significantly affect firm growth. For this purpose, we use an unbalanced panel of about 1,000,000 observations for around 155,000 non-financial corporations in five euro area countries....
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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/10012831402