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Asset Specificity, R&D Financing and the Signalling Properties of the Firm’s Finance Structure

In: Finance and Technological Change

Author

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  • Enrico Santarelli

    (University of Bologna)

Abstract

In Chapter 2 we saw how Schumpeter laid sound microfoundations for the analysis of the financing of innovative activities. Nonetheless Schumpeter’s contribution is only a useful starting point for study of this phenomenon. As shown by the short survey conducted in Section 1.3, finance theory has progressed greatly in the last forty years. Accordingly it is much easier nowadays than it was at Schumpeter’s time to analyse by means of elegant formal models the relationship between the types of investments undertaken by a firm and its finance structure.

Suggested Citation

  • Enrico Santarelli, 1995. "Asset Specificity, R&D Financing and the Signalling Properties of the Firm’s Finance Structure," Palgrave Macmillan Books, in: Finance and Technological Change, chapter 4, pages 39-58, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37503-1_4
    DOI: 10.1057/9780230375031_4
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    Cited by:

    1. Jonathan Seaton & Ian Walker, 1997. "Signalling, Disclosure And The Implications Of Financial Structure For Uk Corporate R&D," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 5(1), pages 75-90.

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