Innovation indicators and corporate credit ratings: evidence from German firms

被引：44

作者：

Czarnitzki, D

Kraft, K

机构：

[1] Ctr European Econ Res, ZEW, D-68034 Mannheim, Germany

[2] Univ Dortmund, D-44227 Dortmund, Germany

来源：

ECONOMICS LETTERS | 2004年 / 82卷 / 03期

关键词：

firm value; credit rating; innovation; intellectual property; discrete regression models;

D O I：

10.1016/j.econlet.2003.09.016

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The literature on the relationship between firm value and knowledge capital is based on stock market valuation. We use a credit rating score as an alternative measure. Innovative firms achieve better ratings, whilst too many innovative activities reduce the rating. (C) 2004 Elsevier B.V. All rights reserved.

引用

页码：377 / 384

页数：8

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