Financial constraints and the failure of innovation projects

Theoretical and empirical approaches have stressed the existence of financial constraints in innovative activities of firms. This paper analyses the role of financial obstacles on the likelihood of abandoning an innovation project. Although a large number of innovation projects are abandoned before their completion, the empirical evidence has focused on the determinants of innovation while failed projects have received little attention. Our analysis differentiates between internal and external barriers on the probability of abandoning a project and we examine whether the effects are different depending on the stage of the innovation process. In the empirical analysis carried out for a panel data of potential innovative Spanish firms for the period 2004-2010, 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 financial constraints most affect the probability of abandoning an innovation project during the concept stage and that low-technological manufacturing and non-KIS service sectors are more sensitive to financial constraints.

Review of Alternative Distribution Methodologies for the Street Construction Fund of the Cities, December 26, 2003

Review of Alternative Distribution Methodologies for the Street Construction Fund of the Cities

Projecte eKnowledge : Desenvolupament i pilotatge d'una eina de fòrum per a donar suport a la construcció col·laborativa de coneixement en el Campus Virtual de la UOC

Informe final del projecte eKnowledge, una eina de fòrums en línia que ofereix a consultors i estudiants la possibilitat de crear espais de comunicació i de col·laboració asíncrona que responguin a diferents finalitats i nivells d'estructuració per part dels docents.

Proyecto eKnowledge: Desarrollo y pilotaje de una herramienta de foro para apoyar la construcción colaborativa de conocimiento en el Campus Virtual de la UOC

Informe final del proyecto eKnowledge, una herramienta de foros en línea que ofrece a consultores y estudiantes la posbilidad de crear espacios de comunicación y colaboración asíncrona que respondan a diferentes finalidades y niveles de estructuración por parte de los docentes.