Research suggests that public subsidies for newly founded firms have a positive effect on follow-on financing, in particular on Venture Capital (VC), through providing certification and early-stage liquidity.…
Usually, offcial and survey-based statistics guide policy makers in their choice of response instruments to economic crises. However, in an early phase, after a sudden and unforeseen shock has caused…
In 2020, firms expected their innovation expenditures to decrease by about 2% in 2020 compared to 2019. This decline is much smaller than that in 2009 following the financial crisis, when innovation expenditures…
COVID-19 placed a special role on fiscal policy in rescuing companies short of liquidity from insolvency. In the first months of the crisis, SMEs as the backbone of Germany’s economy benefited from large and…
