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Access to banks and external capital acquisition: Perceived innovation obstacles
Jönköping University, Jönköping International Business School, JIBS, Economics. Jönköping University, Jönköping International Business School, JIBS, Centre for Entrepreneurship and Spatial Economics (CEnSE).ORCID iD: 0000-0001-6947-3859
Jönköping University, Jönköping International Business School, JIBS, Economics. Jönköping University, Jönköping International Business School, JIBS, Centre for Entrepreneurship and Spatial Economics (CEnSE).ORCID iD: 0000-0002-8942-9393
2018 (English)In: The annals of regional science, ISSN 0570-1864, E-ISSN 1432-0592, Vol. 61, no 1, p. 161-187Article in journal (Refereed) Epub ahead of print
Abstract [en]

We examine whether low access to banks is perceived as problematic when obtaining financial capital for innovation activities. Data on innovation obstacles from the Swedish Community Innovation Survey are combined with geo-coded data at the firm level, which allows us to proxy access to external capital by the Euclidian distance from each firm to its nearest bank and the supply within a radius of five kilometres. The results indicate that both a longer distance to the nearest bank and fewer banks in the vicinity are related to experiencing greater difficulties in obtaining external financial capital for innovations.

Place, publisher, year, edition, pages
Springer, 2018. Vol. 61, no 1, p. 161-187
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-38234DOI: 10.1007/s00168-018-0863-8ISI: 000438628600008Scopus ID: 2-s2.0-85045453031OAI: oai:DiVA.org:hj-38234DiVA, id: diva2:1167536
Available from: 2017-12-19 Created: 2017-12-19 Last updated: 2018-08-22Bibliographically approved
In thesis
1. Firm renewal in the regional economy
Open this publication in new window or tab >>Firm renewal in the regional economy
2017 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

This thesis consists four independent papers. In each paper the purpose is to analyse firm renewal, with special consideration to regional characteristics. Highlighted here are the knowledge available in the region where a firm is located as well as the local supply of financial intermediaries.

The first paper analyses how the interaction of firms’ internal and external knowledge, in terms of knowledge intensive business services (KIBS), is related to the intensive and extensive margins of export flows. The second paper can be considered a continuation of the first, as the focus is solely on the export of new products. Also here, the interaction of internal and external knowledge is the main focus, analysed through education types. The results of these papers suggest that the regional contexts are indeed relevant for firm renewal, as firms that benefit from being located in areas with high external knowledge already have high internal knowledge.

The third paper shifts focus to the innovation process itself by analysing how the access to the local supply of banks is related to firms’ perceived obstacles for innovation activities. The results indicate that lower access to banks increases the probability to experience problems obtaining external capital, which could be detrimental for firms’ renewal possibilities in the long run. The fourth paper focus on the creation of firms and analyses whether individuals are more or less likely to be self-employed after having children in a context where an extensive welfare system exists. The results show that individuals are less likely to be self-employed after having children than before, thus lowering the rate of firm renewal in the economy.

Place, publisher, year, edition, pages
Jönköping: Jönköping University, Jönköping International Business School, 2017. p. 49
Series
JIBS Dissertation Series, ISSN 1403-0470 ; 118
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-38235 (URN)978-91-86345-80-8 (ISBN)
Public defence
2018-01-12, B1014, Jönköping International Business School, Jönköping, 10:00 (English)
Opponent
Supervisors
Available from: 2017-12-19 Created: 2017-12-19 Last updated: 2017-12-19Bibliographically approved

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Backman, MikaelaWallin, Tina

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