IDEAS home Printed from https://ideas.repec.org/a/aea/apandp/v113y2023p268-73.html
   My bibliography  Save this article

Innovation for Innovators: The Financing of Intangibles

Author

Listed:
  • Ana Babus
  • Matias Marzani
  • Sara Moreira

Abstract

This paper examines the characteristics of firms that adopt new financial products and their association with measures of performance. We build a novel firm-level panel dataset and document a positive association between intangible capital and the adoption of new products. We also find that access to external financing through new types of securities is associated with size growth and further investments into intangibles. These findings have important implications for understanding the role that financial innovation can play in meeting the financing needs of firms that rely heavily on intangible capital.

Suggested Citation

  • Ana Babus & Matias Marzani & Sara Moreira, 2023. "Innovation for Innovators: The Financing of Intangibles," AEA Papers and Proceedings, American Economic Association, vol. 113, pages 268-273, May.
    • Handle: RePEc:aea:apandp:v:113:y:2023:p:268-73
    DOI: 10.1257/pandp.20231023
    as

    Download full text from publisher

    File URL: https://www.aeaweb.org/doi/10.1257/pandp.20231023
    Download Restriction: no
    File URL: https://doi.org/10.3886/E188701V1
    Download Restriction: no
    File URL: https://www.aeaweb.org/doi/10.1257/pandp.20231023.appx
    Download Restriction: no
    File URL: https://www.aeaweb.org/doi/10.1257/pandp.20231023.ds
    Download Restriction: Access to full text is restricted to AEA members and institutional subscribers.
    File URL: https://libkey.io/10.1257/pandp.20231023?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:apandp:v:113:y:2023:p:268-73. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael P. Albert (email available below). General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.