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Innovation and credit constraints: evidence from Swedish exporting firms
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Entrepreneurship and innovation.ORCID iD: 0000-0002-5871-8571
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Entrepreneurship and innovation.ORCID iD: 0000-0003-2420-5660
2016 (English)In: Economics of Innovation and New Technology, ISSN 1043-8599, E-ISSN 1476-8364, Vol. 25, no 3, 269-282 p.Article in journal (Refereed) Published
Abstract [en]

Using data from approximately 8300, primarily small, exporting firms in Sweden observed over the business cycle period 1997–2007, we examine the relationship between innovation and financial factors in a regression that include changes in cash holdings, cash flow and debt issues. Our nonlinear econometric approach with interaction variables between recession period, technology intensity and finance suggests that innovative firms in high-tech sectors tend to offset the effect of a negative financial shock by exploiting internal cash resources. No corresponding link between innovation and financial factors is found for medium and low-technology exporters.

Place, publisher, year, edition, pages
Routledge, 2016. Vol. 25, no 3, 269-282 p.
Keyword [en]
innovation, exports, credit constraints, non-linear panel data
National Category
Economics
Identifiers
URN: urn:nbn:se:kth:diva-174604DOI: 10.1080/10438599.2015.1076196ISI: 000410538900005Scopus ID: 2-s2.0-84957848860OAI: oai:DiVA.org:kth-174604DiVA: diva2:877323
Note

QC 20171009

Available from: 2015-12-07 Created: 2015-10-07 Last updated: 2017-10-09Bibliographically approved

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Lööf, HansNabavi, Pardis

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