Innovation and credit constraints: evidence from Swedish exporting firms

Hans Lööf () and Pardis Nabavi

Economics of Innovation and New Technology, 2016, vol. 25, issue 3, 269-282

Abstract: 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.

Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (23)

Downloads: (external link)
http://hdl.handle.net/10.1080/10438599.2015.1076196 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Innovation and credit constraints: Evidence from Swedish exporting firms (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:ecinnt:v:25:y:2016:i:3:p:269-282

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/GEIN20

DOI: 10.1080/10438599.2015.1076196

Access Statistics for this article

Economics of Innovation and New Technology is currently edited by Professor Cristiano Antonelli

More articles in Economics of Innovation and New Technology from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().