Independent Innovation and Equity Finance: Empirical Analysis on Small and Medium-Sized Enterprises

Wei Wei ()
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Wei Wei: Hebei University of Technology

Chapter Chapter 44 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 413-421 from Springer

Abstract: Abstract We use the small and medium-sized enterprises data of Hebei province to analyze the correlation of the independent innovation and equity finance. The result shows that a higher equity ratio is conductive to a higher R&D intensity. Equity may be more important for young companies which have to rely on original equity investment of their owners since they have not yet accumulated retained earnings and can rely less on bank financing.

Keywords: Equity finance; Independent innovation; Small and medium-sized enterprises (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38427-1_44

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DOI: 10.1007/978-3-642-38427-1_44

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