English, Article, Journal or magazine article edition: Banks and Innovation: Microeconometric Evidence on Italian Firms Luigi Benfratello; Fabio Schiantarelli; Alessandro Sembenelli

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Bookmark: http://trove.nla.gov.au/version/73497
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Banks and Innovation: Microeconometric Evidence on Italian Firms
Author
  • Luigi Benfratello
  • Fabio Schiantarelli
  • Alessandro Sembenelli
Physical Description
  • preprint
Notes
  • In this paper we investigate the effect of local banking development on firms’ innovative activities, using a rich data set on innovation for a large number of Italian firms over the 1990’s. There is evidence that banking development affects the probability of process innovation, particularly for small firms and for firms in high(er) tech sectors and in sectors more dependent upon external finance. The evidence for product innovation is weaker. There is also some evidence that banking development reduces the cash flow sensitivity of fixed investment spending, particularly for small firms, and that it increases the probability they will engage in R&​D.
  • RePEc:iza:izadps:dp2032
  • This paper contains a detailed empirical investigation of the effect of local banking development on firms' innovative activities, using a rich data set on innovation at the firm level for a large number of Italian firms over the 90's. There is evidence that banking development affects the probability of process innovation, particularly for small firms and for firms in high(er) tech sectors and in sectors more dependent upon external finance. There is also some evidence that banking development reduces the cash flow sensitivity of fixed investment spending, particularly for small firms, and that it increases the probability they will engage in R&​D.
  • Banks, Financial Development, Innovation, R&​D, Investment
  • RePEc:boc:bocoec:631
Language
  • English
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