financial development and innovation in small firms

financial development and innovation in small firms
Author: Sharma
Publisher: World Bank Publications
Total Pages: 33
Release: 2007
Genre: Access to Finance
ISBN:

Download financial development and innovation in small firms Book in PDF, Epub and Kindle

Abstract: This paper uses firm level data from a cross-section of 57 countries to study how financial development affects innovation in small firms. The analysis finds that relative to large firms in the same industry, spending on research and development by small firms is more likely and sizable in countries at higher levels of financial development. The estimates imply that among firms doing research and development in a country like Romania, which is at the 20th percentile of financial development, a 1 standard deviation decrease in firm size is associated with a decrease of 0.7 standard deviations in research and development spending. In contrast, this decrease is only 0.2 standard deviations in a country like South Africa, which is at the 80th percentile of the distribution of financial development. Small firms also report producing more innovations per unit of research and development spending than large firms, and this gap is narrower in countries at higher levels of financial development. As a robustness check, the author shows that these patterns are stronger in industries inherently more reliant on external finance.


financial development and innovation in small firms
Language: en
Pages: 33
Authors: Sharma
Categories: Access to Finance
Type: BOOK - Published: 2007 - Publisher: World Bank Publications

GET EBOOK

Abstract: This paper uses firm level data from a cross-section of 57 countries to study how financial development affects innovation in small firms. The analysi
Financial Development and Innovation in Small Firms
Language: en
Pages: 33
Authors: Siddharth Sharma
Categories:
Type: BOOK - Published: 2016 - Publisher:

GET EBOOK

This paper uses firm level data from a cross-section of 57 countries to study how financial development affects innovation in small firms. The analysis finds th
Entrepreneurial Finance, Innovation and Development
Language: en
Pages: 299
Authors: Vi Dung Ngo
Categories: Business & Economics
Type: BOOK - Published: 2021-11-29 - Publisher: Routledge

GET EBOOK

Entrepreneurship is now unanimously considered a major engine for socio-economic development, mainly because it creates jobs and innovation. Governments around
Firm Productivity, innovation and Financial Development
Language: en
Pages: 37
Authors: Ms.Genevieve Verdier
Categories: Business & Economics
Type: BOOK - Published: 2010-02-01 - Publisher: International Monetary Fund

GET EBOOK

How do firm-specific actions-in particular, innovation-affect firm productivity? And what is the role of the financial sector in facilitating higher productivit
Fintech, Small Business & the American Dream
Language: en
Pages: 202
Authors: Karen G. Mills
Categories: Business & Economics
Type: BOOK - Published: 2019-03-12 - Publisher: Springer

GET EBOOK

Small businesses are the backbone of the U.S. economy. They are the biggest job creators and offer a path to the American Dream. But for many, it is difficult t