search query: @indexterm Credit / total: 493
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| Author: | Herrera, A.M. Minetti, R. |
| Title: | Informed finance and technological change: Evidence from credit relationships |
| Journal: | Journal of Financial Economics
2007 : JAN, VOL. 83:1, p. 223-269 |
| Index terms: | finance technological change credit banks |
| Language: | eng |
| Abstract: | The theoretical literature offers conflicting predictions on how the information of financiers affect firm's innovation. The impact is tested by using data from a sample of Italian manufacturing firms. The effect is found to be positive and it is economically and statistically more significant for product than for process innovations. The banks do not do not foster internal research. Instead, they help to finance the costs that the introduction of new technology entails. |
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