TY - GEN
T1 - Financial constrains for innovative firms
T2 - 3rd World Summit on the Knowledge Society, WSKS 2010
AU - Castillo-Merino, David
AU - Vilaseca-Requena, Jordi
AU - Plana-Erta, Dolors
PY - 2010
Y1 - 2010
N2 - This paper uses a large and original data set of Catalan firms in all the economic branches to analyse the effects of size, industry and degree of ICT uses on financial constraints for innovative firms. We have conducted a micro econometric analysis following Henry et al. (1999) investment model to empirically contrast the relationship between firms' investment spread over time and their financial structure, and we have used von Kalckreuth (2004) methodology, based on an original survey with data on financial issues. Our results show that it exits a positive and significant relationship between investment shift and financial structure, emerging financial constraints for more innovative firms. Furthermore, these constraints are higher for micro companies and firms within the knowledge-advanced services' industry. Finally, we have also found that advanced ICT uses by more innovative firms allow them to reduce constraints of access to sources of finance.
AB - This paper uses a large and original data set of Catalan firms in all the economic branches to analyse the effects of size, industry and degree of ICT uses on financial constraints for innovative firms. We have conducted a micro econometric analysis following Henry et al. (1999) investment model to empirically contrast the relationship between firms' investment spread over time and their financial structure, and we have used von Kalckreuth (2004) methodology, based on an original survey with data on financial issues. Our results show that it exits a positive and significant relationship between investment shift and financial structure, emerging financial constraints for more innovative firms. Furthermore, these constraints are higher for micro companies and firms within the knowledge-advanced services' industry. Finally, we have also found that advanced ICT uses by more innovative firms allow them to reduce constraints of access to sources of finance.
KW - Financial constraints
KW - ICT uses
KW - Innovation
KW - Intangible Investment
UR - http://www.scopus.com/inward/record.url?scp=78649832907&partnerID=8YFLogxK
U2 - 10.1007/978-3-642-16324-1_5
DO - 10.1007/978-3-642-16324-1_5
M3 - Conference contribution
AN - SCOPUS:78649832907
SN - 3642163238
SN - 9783642163234
T3 - Communications in Computer and Information Science
SP - 34
EP - 45
BT - Organizational, Business, and Technological Aspects of the Knowledge Society - Third World Summit on the Knowledge Society, WSKS 2010, Proceedings
Y2 - 22 September 2010 through 24 September 2010
ER -