Freel, M. (2007) Are small innovators credit rationed? Small Business Economics, 28 (1). pp. 23-35.Full text not available in this repository. (Request a copy from the Strathclyde author)
Drawing upon a sample of 256 small firms who applied for bank loans, the current paper is concerned with the extent to which 'innovativeness' is associated with a lower level of loan application success. The paper records the proportion of loan successfully applied for and estimates a series of tobit models utilising a number of proxy measures for innovation (in terms of inputs, outputs, and commercial significance to the firm) and incorporating standard controls. In general, the models suggest (as anticipated) that the most innovative firms are less successful in loan markets than their less innovative peers - though there is some variation by proxy. Moreover, there is tentative evidence that 'a little innovation may be a good thing'.
|Keywords:||entrepreneurship, innovations, small businesses, business, Commerce, Business, Management and Accounting(all), Economics and Econometrics|
|Subjects:||Social Sciences > Commerce|
|Department:||Strathclyde Business School > Hunter Centre For Entrepreneurship|
|Depositing user:||Strathprints Administrator|
|Date Deposited:||16 Sep 2009 14:49|
|Last modified:||19 Aug 2016 02:12|