the innovation process. Markets with high competition also force enterprises to produce imitative innovations but give …

considerations, the focus is on the share of internal funds, bank loans and subsidies on the volume of innovation expenditure …

studies, the focus is on the proportion of bank credits and internal funds as parts of innovation expenditures. The regression … showing high R&D intensity also use bank credits as financial sources for innovation only to a limited extent. As a result of …

In the long-run, innovation performance has weakened somewhat in German small and me-dium enterprises (SMEs). In …&D). In order to remove the innovation barriers in these SMEs, public policy may play an important role. The empirical … analysis reveals that less R&D-oriented SMEs are indeed more likely to face a number of constraints in their innovation …