Keyword search
Results
All (2)
All (2) ((2 results))
- Articles and reports: 88-003-X20030016468Geography: CanadaDescription:
New small firms with more long-term debt in their balance sheets tend to devote a smaller percentage of their investment expenditure to research and development. A recent Statistics Canada study on financing innovation in new small firms provides insight into an important segment of the small-firm population, namely successful entrants.
Release date: 2003-02-18 - Articles and reports: 11F0019M2002190Geography: CanadaDescription:
This paper investigates the financial characteristics of new small firms. The analysis develops a representative, small-firm financial profile and evaluates the extent to which the proportionate use of different instruments and sources is correlated with industry-level and firm-specific characteristics. Multivariate methods are then used to examine relationships among financial structure, R&D intensity, and innovation.
Our results suggest that relationships between knowledge intensity and capital structure are bidirectional. After a range of industry- and firm-level covariates are controlled for, firms that devote a higher percentage of their investment expenditure to R&D also exhibit fewer debt-intensive structures. Conversely, debt-intensive structures also act to constrain investments in R&D. These relationships, however, depend upon the type of debt in the asset mix. It is the share of long-term debt to total assets that is negatively related to investments in knowledge.
Release date: 2002-05-24
Data (0)
Data (0) (0 results)
No content available at this time.
Analysis (2)
Analysis (2) ((2 results))
- Articles and reports: 88-003-X20030016468Geography: CanadaDescription:
New small firms with more long-term debt in their balance sheets tend to devote a smaller percentage of their investment expenditure to research and development. A recent Statistics Canada study on financing innovation in new small firms provides insight into an important segment of the small-firm population, namely successful entrants.
Release date: 2003-02-18 - Articles and reports: 11F0019M2002190Geography: CanadaDescription:
This paper investigates the financial characteristics of new small firms. The analysis develops a representative, small-firm financial profile and evaluates the extent to which the proportionate use of different instruments and sources is correlated with industry-level and firm-specific characteristics. Multivariate methods are then used to examine relationships among financial structure, R&D intensity, and innovation.
Our results suggest that relationships between knowledge intensity and capital structure are bidirectional. After a range of industry- and firm-level covariates are controlled for, firms that devote a higher percentage of their investment expenditure to R&D also exhibit fewer debt-intensive structures. Conversely, debt-intensive structures also act to constrain investments in R&D. These relationships, however, depend upon the type of debt in the asset mix. It is the share of long-term debt to total assets that is negatively related to investments in knowledge.
Release date: 2002-05-24
Reference (0)
Reference (0) (0 results)
No content available at this time.
- Date modified: