Financial Models of Small Innovative Firms: An Empirical Investigation

Giorgio Calcagnini, Ilario Favaretto () and Germana Giombini
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Ilario Favaretto: Università di Urbino “Carlo Bo”

Chapter Chapter 9 in The Economics of Small Businesses, 2011, pp 151-171 from Springer

Abstract: Abstract This paper aims at analysing financial models of innovative firms in Italy by means of a sample of firms located in the Marche region. While it is well known that innovative firms have different financial needs and more severe problems in accessing funds than traditional firms, our analysis shows that only a small number of the interviewed firms have faced problems in raising external funds for innovation, even during the current economic and financial crisis. Policy recommendations point towards the improvement of firms’ levels of financial culture and the dilution of firms’ ownership by means of external private equity.

Keywords: Private Equity; Bank Loan; Trade Credit; Innovative Firm; Informal Investor (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-7908-2623-4_9

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DOI: 10.1007/978-3-7908-2623-4_9

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