Abstract

BARONA-ZULUAGA, Bernardo; RIVERA-GODOY, Jorge Alberto  and  GARIZADO-ROMAN, Paula Andrea. Investment and financing in innovative companies of the services sector in Colombia. Finanz. polit. econ. [online]. 2017, vol.9, n.2, pp.345-372. ISSN 2248-6046.  https://doi.org/10.14718/revfinanzpolitecon.2017.9.2.7.

This article seeks to examine investment activities in R&D+i and their financing in innovative companies of the services sector in Colombia; to this effect, it presents a statistical and econometric analysis of the information contained in the Survey of Development and Technological Innovation in the Services Sector (EDITS III), prepared by the National Administrative Department of Statistics (DANE). The results show that companies invest more in tangible assets than in assets of intangible nature, and are financed in a greater proportion with own resources (65%) than with private banking (18.5%). In addition, there is a significant negative association between investment in machinery and equipment and financing with own resources.

Keywords : venture capital; entrepreneurial finance; intangible asset finance; corporate finance; innovation; blended finance; R&D+i.

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