Articolo su “Technology Analysis and Strategic Management”
E’ stato pubblicato online first l’articolo “Innovation, financial constraints and credit rating scores” sulla rivista Technology Analysis and Strategic Management (Taylor and Francis) a cura di Giuseppe Giulio Calabrese, Greta Falavigna e Roberto Ippoliti (UNIUPO).
This manuscript investigates whether credit rating scores are a more appropriate measure to predict financial constraints of innovative firms than other common indexes proposed by the literature (e.g. Hadlock and Pierce, Kaplan and Zingales, Whited and Wu). The former measure has higher replicability, and fit is updated annually by financial institutions, while the latter relies on a specific sample of observations and outdated coefficients.
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