Export starters and exiters: Do innovation and finance matter?
| Autor: | Tullio Gregori, Stefania Patrizia Sonia Rossi, Graziella Bonanno, Marco Giansoldati |
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| Přispěvatelé: | Rossi, STEFANIA PATRIZIA SONIA, Bonanno, Graziella, Giansoldati, Marco, Gregori, Tullio |
| Rok vydání: | 2021 |
| Předmět: |
Economics and Econometrics
European SMEs 0211 other engineering and technologies Credit acce 02 engineering and technology Export starter and Export exiter Innovation Credit access Financial frictions Empirical research 0502 economics and business European commission 021108 energy 050207 economics Foreign market Finance Product innovation business.industry 05 social sciences European central bank Financial friction Internationalization Access to finance Business |
| Popis: | Using European Central Bank restricted-access biannual data on European small- and medium-sized enterprises (SMEs) over the period 2014–2017, we analyze the impact that innovation, financial constraints, and an efficient regulatory environment exert on the probability of switching from the status of nonexporter to exporter and vice versa. We find that either the use of finance for innovation or undertaking product innovation increases the likelihood of starting to export and lowers the likelihood of stopping exporting. Although SMEs’ financial frictions are negligible for foreign market entry, they matter for increasing the probability of exiting. We also document that a friendly regulatory environment is conducive to start—but not to stop—exporting. Our findings provide empirical support for the recent European Commission policies on both SMEs’ internationalization and access to finance. |
| Databáze: | OpenAIRE |
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