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Financing Constraints in the Inter Firm Diffusion of New Process Technologies

Alessandra Canepa () and Paul Stoneman ()

A chapter in Essays in Honor of Edwin Mansfield, 2005, pp 247-257 from Springer

Abstract: Abstract This paper explores why finance constraints may impact upon the inter firm diffusion of new technology, incorporates these arguments in a hazard rate formulation of a diffusion model and then estimates that model using data relating to the adoption of CNC machine tools in the UK. The results indicate that financial constraints can be a significant factor in the diffusion process.

Keywords: technological diffusion; CNC; financial constraints (search for similar items in EconPapers)
Date: 2005
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DOI: 10.1007/0-387-25022-0_19

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