Difficulties for small firms to invest in research prerogatives. An empirical analysis of a sample of Italian firms

Marco Muscettola

Applied Economics, 2015, vol. 47, issue 15, 1495-1510

Abstract: It is a commonly accepted fact that a quite strong relation exists between research investments and the general wealth of a given area. The main goal of this study is to analyse and determine which financing sources better serve this need for innovation, taking a sample of 1000 private firms in current economic downturn. Small firms from Southern Italy often have no access to debt capital on nondeterministic research activities, and more importantly, it still seems like banks cannot afford to finance these kinds of operations, mainly because of their indeterminate nature. This research draws the conclusion that only self-evidently solvent firms have a chance of getting the financial help needed to innovate.

Date: 2015
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DOI: 10.1080/00036846.2014.995363

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