Because of its importance in explaining growth, the topic of innovation has received a huge attention in the economic literature. The present study aims at contributing to analyse the determinants of innovation, with a special focus on firm risk. Employing a rich sample of Italian manufacturing firms, we tested for the impact on innovation of the riskiness of the firm, as proxied by the probability of default. We found that riskiness of enterprise reduces the tendency to innovate for the firms. The main channel through which firm risk affects innovation capability appears to be that of innovation financing.

The determinants of innovation: what is the role of risk? / Murro, Pierluigi. - In: MANCHESTER SCHOOL. - ISSN 1463-6786. - 81:3(2013), pp. 293-323. [10.1111/j.1467-9957.2012.02286.x]

The determinants of innovation: what is the role of risk?

PIERLUIGI MURRO
2013

Abstract

Because of its importance in explaining growth, the topic of innovation has received a huge attention in the economic literature. The present study aims at contributing to analyse the determinants of innovation, with a special focus on firm risk. Employing a rich sample of Italian manufacturing firms, we tested for the impact on innovation of the riskiness of the firm, as proxied by the probability of default. We found that riskiness of enterprise reduces the tendency to innovate for the firms. The main channel through which firm risk affects innovation capability appears to be that of innovation financing.
2013
The determinants of innovation: what is the role of risk? / Murro, Pierluigi. - In: MANCHESTER SCHOOL. - ISSN 1463-6786. - 81:3(2013), pp. 293-323. [10.1111/j.1467-9957.2012.02286.x]
File in questo prodotto:
Non ci sono file associati a questo prodotto.
Pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11385/67656
Citazioni
  • Scopus 14
  • ???jsp.display-item.citation.isi??? 11
  • OpenAlex ND
social impact