Review of other relevant literature
This chapter lays the foundation for the theoretical framework by reviewing literature in the relevant areas, i.e. innovation, growth and financial economics. It is organized as follows: First, it evaluates theoretical models of technology innovation and diffusion and presents related empirical evidence on various industries. Second, it reviews implications for firms and analyzes existing empirical evidence. Third, it summarizes the findings throughout corporate lifecycles as a basis for integrating innovation, corporate finance and policy research. This section also reviews the main determinants of firm growth. Fourth, it discusses finance theory and the corresponding empirical findings, focusing on capital structures and financial constraints. Finally, it analyzes greentech programs launched by the German government and draws implications at the level of the firm.
KeywordsCash Flow Firm Size Small Firm Large Firm Venture Capital
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