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• W2162657504 abstract "We study the effects of credit rationing on research and development (R&D) investment using survey and accounting data on a large representative sample of manufacturing small‐ and medium‐sized enterprises ( SMEs ). Our econometric model accounts for the endogeneity of our credit rationing indicator and employs an innovative theory‐based identification strategy. We find that credit rationing has a significantly negative effect on both the probability to set up R&D activities and on the level of R&D spending (conditioned on the R&D decision), but the overall estimated reduction in R&D spending is largely to be associated with the first effect . ( JEL G21, D82, O32, C35)" @default.
• W2162657504 created "2016-06-24" @default.
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• W2162657504 date "2014-03-27" @default.
• W2162657504 modified "2023-10-04" @default.
• W2162657504 title "R&D AND CREDIT RATIONING IN SMEs" @default.
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• W2162657504 doi "https://doi.org/10.1111/ecin.12080" @default.
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