External financing constraints and firm's innovative activities during the financial crisis

Arbeitspapier

We investigate the effect of individual banks' liquidity shocks during the recent financial crisis of 2008/2009 on the innovation activities of their business customers. Individual banks' liquidity shocks are identified by the degree of interbank market usage. We use a difference-in-differences approach to identify the effect of interbank reliance during the crisis on total innovation expenditures in comparison to the periods before. Our results imply that those firms which have a business relation to a bank with higher interbank market reliance reduce their innovation activities during the financial crisis to a higher degree than other firms.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ZEW Discussion Papers ; No. 17-064

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Financial Crises ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Corporate Finance and Governance: General ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General ; Innovation and Invention: Processes and Incentives
• Thema: financial crisis ; financial constraints of banks ; financing of innovation ; innovation activity

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Giebel, Marek ; Kraft, Kornelius
• Ereignis: Veröffentlichung
• (wer): Zentrum für Europäische Wirtschaftsforschung (ZEW)
• (wo): Mannheim
• (wann): 2017

Weitere Informationen

• Handle: http://hdl.handle.net/10419/172324
• URN: urn:nbn:de:bsz:180-madoc-438194
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ