This contribution is concerned with the spread of new products in small and medium-sized enterprises in the manufacturing sector. Based on an empirical study it is analyzed according to which factors planned product launches are either genuine market novelties or products that are new from the...

This article examines how SMEs finance their innovations. Against the background of financial theoretical considerations, the focus is on the share of internal funds, bank loans and subsidies on the volume of innovation expenditure. Particularly in the case of small as well as highly innovative...

This paper examines the financing of innovations in small and medium sized enterprises. In contrast to other existing studies, the focus is on the proportion of bank credits and internal funds as parts of innovation expenditures. The regression results indicate financing constraints due to...

Using Germany as an example, this article examines how different groups of small andmedium-sized enterprises were impacted by and recovered from the COVID-19 pandemic.The study found that at the onset of the pandemic, turnover losses were experienced notjust by enterprises regarded as poor...

This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find...

This paper analyzes the importance of equity finance for the Ramp;D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we...

In der Langfristperspektive hat im Bereich der kleineren und mittleren Unternehmen (KMU) die Innovationsdynamik nachgelassen. Dies gilt vor allem für solche Segmente der mittelständischen Wirtschaft, die typischerweise weniger stark auf eigene Forschung und Entwicklung setzen. Um entsprechende...

Financial theory creates a puzzle. Some authors argue that high-risk entrepreneurs choose debt contracts instead of equity contracts since risky but high returns are of relatively more value for a loan-financed firm. Conversely, authors who focus explicitly on start-up finance predict that...