Public provision of sales contingent claims backed finance to SMEs: A policy alternative
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- John H. Cochrane & Jesus Saa-Requejo, 2000.
"Beyond Arbitrage: Good-Deal Asset Price Bounds in Incomplete Markets,"
Journal of Political Economy, University of Chicago Press, vol. 108(1), pages 79-119, February.
- John H. Cochrane & Jesus Saa-Requejo, 1996. "Beyond Arbitrage: "Good-Deal" Asset Price Bounds in Incomplete Markets," NBER Working Papers 5489, National Bureau of Economic Research, Inc.
- John H. Cochrane & Jesús Saá-Requejo, 1998. "Beyond Arbitrage: "Good-Deal" Asset Price Bounds in Incomplete Markets," CRSP working papers 430, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- Sujoy Mukerji & Jean-Marc Tallon, 2001.
"Ambiguity Aversion and Incompleteness of Financial Markets,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 68(4), pages 883-904.
- Mukerji, S. & Tallon, J.-M., 1999. "Ambiguity Aversion and Incompleteness of Financial Markets," Papiers d'Economie Mathématique et Applications 1999-28, Université Panthéon-Sorbonne (Paris 1).
- Sujoy Mukerji & Jean-Marc Tallon & Université Paris I Panthéon-Sorbonne, 2000. "Ambiguity Aversion and Incompleteness of Financial Markets," Economics Series Working Papers 46, University of Oxford, Department of Economics.
- Sujoy Mukerji & Jean-Marc Tallon, 2001. "Ambiguity Aversion and Incompleteness of Financial Markets," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00174539, HAL.
- Sujoy Mukerji & Jean-Marc Tallon, 2001. "Ambiguity Aversion and Incompleteness of Financial Markets," Post-Print halshs-00174539, HAL.
- Stoneman, Paul & Kaivanto, Kim, 2004. "Risk Shifting, Technology Policy and Sales Contingent Claims: When is Launch Aid to the Aerospace Industry A Subsidy?," CEPR Discussion Papers 4798, C.E.P.R. Discussion Papers.
- Manuel Trajtenberg, 2002.
"Government Support for Commercial R&D: Lessons from the Israeli Experience,"
NBER Chapters, in: Innovation Policy and the Economy, Volume 2, pages 79-134,
National Bureau of Economic Research, Inc.
- Trajtenberg, M., 2001. "Government Support of Commercial R&D: Lessons from the Israeli Experience," Papers 2001-8, Tel Aviv.
- William Lazonick & Andrea Prencipe, 2005. "Dynamic capabilities and sustained innovation: strategic control and financial commitment at Rolls-Royce plc," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 14(3), pages 501-542, June.
- Myers, Stewart C. & Majluf, Nicholas S., 1984.
"Corporate financing and investment decisions when firms have information that investors do not have,"
Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
- Myers, Stewart C. & Majluf, Nicolás S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Working papers 1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Gernot Klepper, 1994. "Industrial Policy in the Transport Aircraft Industry," NBER Chapters, in: Empirical Studies of Strategic Trade Policy, pages 101-130, National Bureau of Economic Research, Inc.
- Morris, Stephen, 1994. "Trade with Heterogeneous Prior Beliefs and Asymmetric Information," Econometrica, Econometric Society, vol. 62(6), pages 1327-1347, November.
- Myers, Stewart C., 1984. "Capital structure puzzle," Working papers 1548-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Myers, Stewart C, 1984. "The Capital Structure Puzzle," Journal of Finance, American Finance Association, vol. 39(3), pages 575-592, July.
- Bronwyn Hall, 2004.
"The financing of research and development,"
Chapters, in: Anthony Bartzokas & Sunil Mani (ed.), Financial Systems, Corporate Investment in Innovation, and Venture Capital, chapter 2,
Edward Elgar Publishing.
- Bronwyn H. Hall, 2002. "The Financing of Research and Development," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 18(1), pages 35-51, Spring.
- Hall, Bronwyn H., 2002. "The Financing of Research and Development," Department of Economics, Working Paper Series qt34c1c643, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Bronwyn H. Hall, 2002. "The Financing of Research and Development," NBER Working Papers 8773, National Bureau of Economic Research, Inc.
- Bronwyn H. Hall, 2003. "The Financing of Research and Development," Finance 0303003, University Library of Munich, Germany.
- Hall, Bronwyn, 2002. "The Financing of Research and Development," Department of Economics, Working Paper Series qt5rf0x9gz, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Stewart C. Myers, 1984. "Capital Structure Puzzle," NBER Working Papers 1393, National Bureau of Economic Research, Inc.
- Robert E. Baldwin, 1988. "Trade Policy Issues and Empirical Analysis," NBER Books, National Bureau of Economic Research, Inc, number bald88-2.
- Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
- Damien NEVEN & Paul SEABRIGHT, 1995. "European Industrial Policy: The Airbus Case," Cahiers de Recherches Economiques du Département d'économie 9509, Université de Lausanne, Faculté des HEC, Département d’économie.
- Paul Krugman & Alasdair Smith, 1994. "Empirical Studies of Strategic Trade Policy," NBER Books, National Bureau of Economic Research, Inc, number krug94-1.
- Richard Baldwin & Paul Krugman, 1988. "Industrial Policy and International Competition in Wide-Bodied Jet Aircraft," NBER Chapters, in: Trade Policy Issues and Empirical Analysis, pages 45-78, National Bureau of Economic Research, Inc.
- Stephen Morris, 1997. "Risk, uncertainty and hidden information," Theory and Decision, Springer, vol. 42(3), pages 235-269, May.
- Dixit, Avinash K & Kyle, Albert S, 1985. "The Use of Protection and Subsidies for Entry Promotion and Deterrence," American Economic Review, American Economic Association, vol. 75(1), pages 139-152, March.
- Antonio E. Bernardo & Olivier Ledoit, 2000. "Gain, Loss, and Asset Pricing," Journal of Political Economy, University of Chicago Press, vol. 108(1), pages 144-172, February.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Svensson, Roger, 2007.
"Commercialization of patents and external financing during the R&D phase,"
Research Policy, Elsevier, vol. 36(7), pages 1052-1069, September.
- Svensson, Roger, 2004. "Commercialization of Patents and External Financing during the R&D-Phase," Working Paper Series 624, Research Institute of Industrial Economics.
- Roger Svensson, 2013.
"Publicly-funded R&D programs and survival of patents,"
Applied Economics, Taylor & Francis Journals, vol. 45(10), pages 1343-1358, April.
- Roger Svensson, 2011. "Publicly-Funded R&D Programs and Survival of Patents," Post-Print hal-00762896, HAL.
- Stoneman, Paul, 2011. "Soft Innovation: Economics, Product Aesthetics, and the Creative Industries," OUP Catalogue, Oxford University Press, number 9780199697021.
- A. Garcia-Bernabeu & F. Mayor-Vitoria & F. Mas-Verdu, 2015. "Project Finance Recent Applications and Future Trends: The State of the Art," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 14(2), pages 159-178, December.
- Day-Yang Liu & Chia-Kan Wang & Chung-Yi Fang & Pei-Leen Liu, 2021. "A Study of Project Financing on the Defense Industry in Systems Thinking Perspective," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 11(2), pages 1-6.
- Liu, Shasha & Ji, Mianmian & Wang, Huijuan, 2021. "Decentralization and firm innovation: Evidence from a natural experiment in China," Economic Modelling, Elsevier, vol. 94(C), pages 501-512.
- Kaivanto, Kim & Zinober, Alan, 2015. "When are Capital Structure Decisions Nonseparable from Production Planning? The Case of Generalized Royalty-Based Hybrid Finance," MPRA Paper 66963, University Library of Munich, Germany.
- Kim Kaivanto & Alan Zinober, 2015. "When are capital structure decisions nonseparable from production planning?," Working Papers 96496260, Lancaster University Management School, Economics Department.
- Svensson, Roger, 2008. "Renewal of Patents and Government Financing," Working Paper Series 759, Research Institute of Industrial Economics.
- Wang, Taiyuan & Thornhill, Stewart, 2010. "R&D investment and financing choices: A comprehensive perspective," Research Policy, Elsevier, vol. 39(9), pages 1148-1159, November.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Valérie Revest & Alessandro Sapio, 2012.
"Financing technology-based small firms in Europe: what do we know?,"
Small Business Economics, Springer, vol. 39(1), pages 179-205, July.
- Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Post-Print halshs-00606802, HAL.
- Francesco Aiello & Graziella Bonanno & Stefania P. S. Rossi, 2020. "How firms finance innovation. Further empirics from European SMEs," Metroeconomica, Wiley Blackwell, vol. 71(4), pages 689-714, November.
- Massimo G. Colombo & Kourosh Shafi, 2021. "Receiving external equity following successfully crowdfunded technological projects: an informational mechanism," Small Business Economics, Springer, vol. 56(4), pages 1507-1529, April.
- Ciarán mac an Bhaird & Brian Lucey, 2010.
"Determinants of capital structure in Irish SMEs,"
Small Business Economics, Springer, vol. 35(3), pages 357-375, October.
- Mac an Bhaird, Ciaran & Lucey, Brian, 2008. "Determinants of capital structure in Irish SMEs," MPRA Paper 62370, University Library of Munich, Germany, revised 28 Nov 2008.
- SAU, Lino, 2007.
"New Pecking Order Financing for Innovative Firms: an Overview,"
MPRA Paper
3659, University Library of Munich, Germany.
- Sau Lino, 2007. "New Pecking Order Financing for Innovative Firms: an Overview," Department of Economics and Statistics Cognetti de Martiis. Working Papers 200702, University of Turin.
- Maskus, Keith E. & Neumann, Rebecca & Seidel, Tobias, 2012.
"How national and international financial development affect industrial R&D,"
European Economic Review, Elsevier, vol. 56(1), pages 72-83.
- Keith E. Maskus & Rebecca Neumann & Tobias Seidel, 2011. "How National and International Financial Development Affect Industrial R&D," CESifo Working Paper Series 3480, CESifo.
- Francesco Aiello & Graziella Bonanno & Stefania Patrizia Sonia Rossi, 2019. "Risk Aversion And Entrepreneurship: Financing Innovation For Smes Across Europe. Evidence From Multilevel Models," Working Papers 201902, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.
- Christopher F. Baum & Mustafa Caglayan & Oleksandr Talavera, 2013.
"The Effects of Future Capital Investment and R&D Expenditures on Firms' Liquidity,"
Review of International Economics, Wiley Blackwell, vol. 21(3), pages 459-474, August.
- Christopher F Baum & Mustafa Caglayan & Oleksandr Talavera, 2009. "The Effects of Future Capital Investment and R&D Expenditures on Firms' Liquidity," Boston College Working Papers in Economics 712, Boston College Department of Economics, revised 23 Jul 2012.
- David McLean, R., 2011. "Share issuance and cash savings," Journal of Financial Economics, Elsevier, vol. 99(3), pages 693-715, March.
- Casson, Peter D. & Martin, Roderick & Nisar, Tahir M., 2008. "The financing decisions of innovative firms," Research in International Business and Finance, Elsevier, vol. 22(2), pages 208-221, June.
- Martinsson, Gustav, 2009. "Finance and R&D Investments - is there a debt overhang effect on R&D investments?," Working Paper Series in Economics and Institutions of Innovation 174, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
- Martinsson, Gustav, 2008. "Firm Collateral and the Cyclicality of Knowledge Intensity," Working Paper Series in Economics and Institutions of Innovation 134, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
- Patrícia Becsky-Nagy, 2016. "The Special Aspects of Venture Capital’s Value Creating Mechanisms in Hungary," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 12(3), pages 31-55.
- Khémiri, Wafa & Noubbigh, Hédi, 2020. "Size-threshold effect in debt-firm performance nexus in the sub-Saharan region: A Panel Smooth Transition Regression approach," The Quarterly Review of Economics and Finance, Elsevier, vol. 76(C), pages 335-344.
- Bo-Hung Chiou & Shen-Ho Chang, 2020. "Influence of Investment Efficiency by Managers and Accounting Conservatism on Idiosyncratic Risks to Investors," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 10(1), pages 1-8.
- Fulghieri, Paolo & Lukin, Dmitry, 2001. "Information production, dilution costs, and optimal security design," Journal of Financial Economics, Elsevier, vol. 61(1), pages 3-42, July.
- Wei He & Qian Wang, 2020. "The peer effect of corporate financial decisions around split share structure reform in China," Review of Financial Economics, John Wiley & Sons, vol. 38(3), pages 474-493, July.
- Nishant B. Labhane, 2019. "Dividend Policy Decisions in India: Standalone Versus Business Group-Affiliated Firms," Global Business Review, International Management Institute, vol. 20(1), pages 133-150, February.
- Magnus Schückes & Tobias Gutmann, 2021. "Why do startups pursue initial coin offerings (ICOs)? The role of economic drivers and social identity on funding choice," Small Business Economics, Springer, vol. 57(2), pages 1027-1052, August.
- Agnieszka Kuś & Dorota Grego-Planer, 2021. "A Model of Innovation Activity in Small Enterprises in the Context of Selected Financial Factors: The Example of the Renewable Energy Sector," Energies, MDPI, vol. 14(10), pages 1-17, May.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:respol:v:36:y:2007:i:5:p:637-651. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/respol .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.