Are R&D-Active SMEs in the Emerging Markets Financially Constrained? Self-Evaluation Approach

Katarzyna Prędkiewicz () and Paweł Prędkiewicz
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Katarzyna Prędkiewicz: Wrocław University of Economics, Department of Finance

A chapter in The Impact of Globalization on International Finance and Accounting, 2018, pp 27-34 from Springer

Abstract: Abstract The paper aims to examine whether R&D-active companies are financially constrained based on a self-assessment approach. A second aim is to check whether a company’s size has any impact on access to capital for R&D-active firms. The study is based on data collected from more than 400 enterprises operating in Poland. The analysis has confirmed that there is a significant difference between R&D-active companies and their peers with no R&D activity; however, the “size effect” was not strongly proven. It seems that both SMEs and large companies are financially constrained, thereby justifying the direct tools (e.g. grants) used for alleviating the problem of access to capital regardless of the company’s size.

Keywords: Innovation; Financial constraints; R&D (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-68762-9_3

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DOI: 10.1007/978-3-319-68762-9_3

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