How financing constraints is affecting SMEs' innovation during the economic crisis?

Abstract:

Asymmetric information, bankruptcy risks and agency conflicts lead to extremely high external financing costs (Madrid-Guijarro et al 2009).[...] a firm's investment behavior might be constrained in terms of the availability and cost of finance (Bartoloni, 2013) if its internal resources are not sufficient to carry out the investment.[...] manufacturing SMEs are resigning innovation not because they feel they are not able to carry out that project or the projects are not profitable, but because they are suffering financing constraints.

Año de publicación:

2014

Keywords:

Fuente:

google