Autor segons l'article: Garcia-Quevedo, JosÉ; Segarra-Blasco, AgustÍ; Teruel, Mercedes
Departament: Economia
Autor/s de la URV: Segarra Blasco, Agustí / Teruel Carrizosa, Mercedes
Paraules clau: Financial constraints Failure of innovation projects Barriers to innovation
Resum: Although many innovation projects are abandoned before completion, the empirical evidence has focused on the determinants of innovation, while failed projects have received little attention. This paper analyses the role of financial obstacles on the likelihood of abandoning an innovation project by potentially innovative Spanish firms for the period 2005-2013. Our analysis differentiates between the impacts of internal and external barriers on the probability of abandoning a project, and we examine whether these differ depending on the stage of the innovation process. Controlling for potential endogeneity, we use a bivariate probit model to take into account the simultaneity of financial constraints and the decision to abandon an innovation project. Our results show that it is during the conception stage that financial constraints have their greatest effect on the probability of abandoning an innovation project. In addition, the financial sources are not neutral across the innovation project lifecycle. During the design phase, Spanish firms are more sensitive to internal financial sources while, during the execution stage, they are more sensitive to external sources.
Àrees temàtiques: Social sciences, general
Accès a la llicència d'ús: https://creativecommons.org/licenses/by/3.0/es/
Adreça de correu electrònic de l'autor: agusti.segarra@urv.cat agusti.segarra@urv.cat mercedes.teruel@urv.cat
Identificador de l'autor: 0000-0001-6316-3171 0000-0001-6316-3171 0000-0002-4104-7679
Data d'alta del registre: 2023-11-11
Versió de l'article dipositat: info:eu-repo/semantics/acceptedVersion
Enllaç font original: https://www.sciencedirect.com/science/article/abs/pii/S0040162517307291
URL Document de llicència: http://repositori.urv.cat/ca/proteccio-de-dades/
Referència a l'article segons font original: Technological Forecasting & Social Change. 127 127-140
Referència de l'ítem segons les normes APA: Garcia-Quevedo, JosÉ; Segarra-Blasco, AgustÍ; Teruel, Mercedes (2018). Financial constraints and the failure of innovation projects. Technological Forecasting & Social Change, 127(), 127-140. DOI: 10.1016/j.techfore.2017.05.029
DOI de l'article: 10.1016/j.techfore.2017.05.029
Entitat: Universitat Rovira i Virgili
Any de publicació de la revista: 2018
Tipus de publicació: Journal Publications
Repositori URV