How does patent examination influence access to finance for innovative firms? We exploit a reform to the UK's patent system that introduced substantive examination to the patent application process, improving the information available to potential investors on the value of firms' patents. Using...

The coronavirus disease (COVID-19) pandemic profoundly impacted people's lives, social activities, and businesses. It particularly affected micro, small, and medium-sized enterprises (MSMEs), which account for the vast majority of firms and most of the labor force. Compared to larger firms,...

This study advances the understanding of cleantech commercialisation by adopting a market validation approach to analyse equity capital’s role in navigating the ‘Valley of Death’. Focusing on the three core financial milestones – revenue generation, profitability and retained earnings...

The knowledge on financial management highly matters as it assists the microentrepreneurs in the making of right and sustainable business decisions. This research seeks to examine the effects of financial literacy on microenterprise decision-making in order to improve rational decision-making in...

We examine the relationship between capital structure and carbon intensity in manufacturing firms using a novel dataset that combines information from the EU Emission Trading System with firm-level financial accounts. Our findings indicate that higher financial leverage is associated with lower...