Bank credit supply and firm innovation


Giebel, Marek ; Kraft, Kornelius


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URL: https://ub-madoc.bib.uni-mannheim.de/44765
URN: urn:nbn:de:bsz:180-madoc-447651
Document Type: Working paper
Year of publication: 2018
The title of a journal, publication series: ZEW Discussion Papers
Volume: 18-011
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: G01 , G21 , G30 , O16 , O30 , O31,
Keywords (English): Financing of innovations , credit supply , financial crisis , innovative activities
Abstract: We analyze the causal effect of the credit supply shock to banks induced by interbank market disruptions in the recent financial crisis 2008/2009 on their business customers’ innovation activity. Using a matched bank-firm data set for Germany, we find that having relations with a more severely affected bank seriously hampers firms’ current innovation activities due to funding shortages. Furthermore, we find that firms with a relationship to a less severely affected bank are more likely to initiate new product and process innovations and to reallocate human resources to innovation during the financial crisis.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Giebel, Marek ; Kraft, Kornelius (2018) Bank credit supply and firm innovation. Open Access ZEW Discussion Papers Mannheim 18-011 [Working paper]
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