William Kerr () and
Ramana Nanda ()
No 28/2015, Research Discussion Papers from Bank of Finland
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning some long-held beliefs, and creating its own puzzles. Our review outlines the growing body of work that documents a role for debt financing related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects and how this impacts optimal financing design. We further highlight the strong interaction between financing choices for innovation and changing external conditions, especially reduced experimentation costs.
JEL-codes: G21 G24 L26 M13 O31 O32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cfn, nep-ent, nep-ino, nep-knm, nep-ppm, nep-sbm and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (16) Track citations by RSS feed
Downloads: (external link)
Journal Article: Financing Innovation (2015)
Working Paper: Financing Innovation (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bof:bofrdp:2015_028
Access Statistics for this paper
More papers in Research Discussion Papers from Bank of Finland Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland. Contact information at EDIRC.
Bibliographic data for series maintained by Minna Nyman ().