Do financial constraints threat the innovation process? Evidence from Portuguese firms

Detalhes bibliográficos
Autor(a) principal: Silva, Filipe
Data de Publicação: 2012
Outros Autores: Carreira, Carlos
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10316/104772
https://doi.org/10.1080/10438599.2011.639979
Resumo: This paper broadly addresses the financing problems of the innovation process, by analysing the extent to which financial constraints hinder firms’ investment in R&D and innovation, as well as investigating the role of public financial support in alleviating such constraints. In order to overcome the problems associated with measuring financial constraints, we make use of both indirect and direct measures of constraints. Our findings suggest that while financial constraints have a perverse effect upon R&D investment and innovation, there is no evidence that subsidies mitigate such constraints. Accordingly, we raise a number of questions regarding the efficiency and effectiveness of subsidies in alleviating firms’ financial constraints.
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spelling Do financial constraints threat the innovation process? Evidence from Portuguese firmsinnovationR&D investmentfinancial constraintssubsidiesPortugalThis paper broadly addresses the financing problems of the innovation process, by analysing the extent to which financial constraints hinder firms’ investment in R&D and innovation, as well as investigating the role of public financial support in alleviating such constraints. In order to overcome the problems associated with measuring financial constraints, we make use of both indirect and direct measures of constraints. Our findings suggest that while financial constraints have a perverse effect upon R&D investment and innovation, there is no evidence that subsidies mitigate such constraints. Accordingly, we raise a number of questions regarding the efficiency and effectiveness of subsidies in alleviating firms’ financial constraints.Taylor & Francis2012info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10316/104772http://hdl.handle.net/10316/104772https://doi.org/10.1080/10438599.2011.639979eng1043-85991476-8364Silva, FilipeCarreira, Carlosinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-01-24T22:05:05Zoai:estudogeral.uc.pt:10316/104772Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T21:21:25.526119Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Do financial constraints threat the innovation process? Evidence from Portuguese firms
title Do financial constraints threat the innovation process? Evidence from Portuguese firms
spellingShingle Do financial constraints threat the innovation process? Evidence from Portuguese firms
Silva, Filipe
innovation
R&D investment
financial constraints
subsidies
Portugal
title_short Do financial constraints threat the innovation process? Evidence from Portuguese firms
title_full Do financial constraints threat the innovation process? Evidence from Portuguese firms
title_fullStr Do financial constraints threat the innovation process? Evidence from Portuguese firms
title_full_unstemmed Do financial constraints threat the innovation process? Evidence from Portuguese firms
title_sort Do financial constraints threat the innovation process? Evidence from Portuguese firms
author Silva, Filipe
author_facet Silva, Filipe
Carreira, Carlos
author_role author
author2 Carreira, Carlos
author2_role author
dc.contributor.author.fl_str_mv Silva, Filipe
Carreira, Carlos
dc.subject.por.fl_str_mv innovation
R&D investment
financial constraints
subsidies
Portugal
topic innovation
R&D investment
financial constraints
subsidies
Portugal
description This paper broadly addresses the financing problems of the innovation process, by analysing the extent to which financial constraints hinder firms’ investment in R&D and innovation, as well as investigating the role of public financial support in alleviating such constraints. In order to overcome the problems associated with measuring financial constraints, we make use of both indirect and direct measures of constraints. Our findings suggest that while financial constraints have a perverse effect upon R&D investment and innovation, there is no evidence that subsidies mitigate such constraints. Accordingly, we raise a number of questions regarding the efficiency and effectiveness of subsidies in alleviating firms’ financial constraints.
publishDate 2012
dc.date.none.fl_str_mv 2012
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10316/104772
http://hdl.handle.net/10316/104772
https://doi.org/10.1080/10438599.2011.639979
url http://hdl.handle.net/10316/104772
https://doi.org/10.1080/10438599.2011.639979
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 1043-8599
1476-8364
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Taylor & Francis
publisher.none.fl_str_mv Taylor & Francis
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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