Innovation and SME finance: Evidence from developing countries

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Title

Innovation and SME finance: Evidence from developing countries

Content partner

University of Waikato

Collection

ResearchCommons@Waikato

Description

This paper explores the relationship between firm-level innovation and external finance for small and medium enterprises (SMEs). Our sample consists of 13,430 firms from Eastern Europe and Central Asian countries. A propensity score matching approach reports a positive relationship between formal finance and product and process innovations, which is greater for early-stage SMEs than for mature counterparts. However, informal finance has more significant impact on mature firms’ product innovat...

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Format

Research paper

Research format

Journal article

Date created

2019-11-01

Creator

Wellalage, Nirosha Hewa / Fernandez, V

URL

https://hdl.handle.net/10289/15424

Related subjects

Social Sciences / Finance / Business & Economics / Developing countries / External finance / Innovation / SMEs / Propensity score matching methods / Informal finance / Entrepreneurial Finance / Matching estimators / Propensity score / Economic growth / Small firms / Credit / Constraints / Impact / Matter

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This is an author’s accepted version of an article published in the International Review of Financial Analysis. © 2019 Elsevier Science

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