Template-Type: ReDIF-Paper 1.0
Author-Name: Serena Frazzoni
Author-X-Name-First: Serena
Author-X-Name-Last: Frazzoni
Author-Name: Maria Luisa Mancusi
Author-X-Name-First: Maria Luisa 
Author-X-Name-Last: Mancusi
Author-Email: marialuisa.mancusi@unicatt.it
Author-Workplace-Name: Università Cattolica del Sacro Cuore
Author-Workplace-Name: Dipartimento di Economia e Finanza, Università Cattolica del Sacro Cuore
Author-Name: Zeno Rotondi
Author-X-Name-First: Zeno 
Author-X-Name-Last: Rotondi
Author-Name: Maurizio Sobrero
Author-X-Name-First: Maurizio 
Author-X-Name-Last: Sobrero
Author-Name: Andrea Vezzulli
Author-X-Name-First: Andrea 
Author-X-Name-Last: Vezzulli
Title: Innovation and export in SMEs: the role of relationship banking
Abstract: This paper assesses the role of relationship lending in explaining simultaneously the innovation
activity of Small and Medium Enterprises (SME), their probability to export (i.e. the extensive
margin) and their share of exports on total sales conditional on exporting (i.e. the intensive margin).
We adopt a measure of informational tightness based on the ratio of firm’s debt with its main
bank to firm’s total assets. Our results show that the strength of the bank-firm relation has a
positive impact on both SME’s probability to export and their export margins. This positive
effect is only marginally mediated by the SME’s increased propensity to introduce product
innovation. We further discuss the financial and non-financial channels through which the
intensity of bank-firm relationship supports SMEs’ international activities.
Length: 37
Creation-Date: 2014-11
File-URL: http://dipartimenti.unicatt.it/economia-finanza-def18.pdf
File-Format: Application/pdf
File-Function: First version, 2014
Number: def18
Classification-JEL: F10, G20, G21, O30. 
Keywords: margins of export, bank-firm relationships, innovation, localized knowledge spillovers
Handle: RePEc:ctc:serie1:def18