Research with Impact: Access to Finance for Business Growth, Innovation and Working Capital
- Credit Management Research Centre
About the research:
“My research on the financing, ownership and governance of the UK corporate sector has investigated small firm access to financing, working capital and trade debt management; growth finance and the role of private equity and the funding of high technology and knowledge intensive ventures.
The empirical findings have been published in high quality international academic journals; have been widely covered in the media and international press; debated in the commons and have had a direct influence on government policy, particularly recent legislation (Summer Finance Bill, 2015) which you can read about here on this blog.
I have been invited to contribute to a number of government expert groups and consultations including the Breedon Task Force, 2012; Better Payment Practice Group; Expert Working Group on Consumer Debt; National Audit Office and HMRC; and the Bank of England.
Recent work for HM Treasury and HMRC investigated the nature and scale of the ‘equity gap’ for high technology and knowledge intensive companies. The findings directly influenced the formulation of policy amendments to the Enterprise Investment Scheme and Venture Capital Trusts. An important aspect of this work was to gain ‘State Aid Approval’ from the European Commission for the proposed policy based on evidencing a 'market failure’ in the provision of risk finance in the UK. The EU granted approval in October.
Further work on private equity has been published in a 4* journal and in reports published by the British Venture Capital Association. Current work in association with the BVCA is investigating corporate growth in the North of England.
Empirical work on board diversity was cited in the Davies Report (2011) “Women on Boards” and subsequent recommendations. The academic paper was widely cited in the international press and Harvard Business School Newsletters and we continue to work on the theme of diversity and economic performance.
It is very satisfying to produce research that can be shown to have an influence on government policy and/or industry practice. Researchers should be encouraged to think about ways in which they can achieve a wider dissemination of academic outputs in order to demonstrate fully the relevance of research at policy and practitioner levels. Hopefully these awards will go some way to accomplish this.”
You can view the presentation Professor Wilson made at the awards here.
Comment from the judges:
“Professor Wilson has many years’ experience working with government departments and task forces and it is clear that his research has a major impact on policy in an area that is particularly important to businesses. This recent work over the summer of 2015 was an exceptional feat of big data analysis that provided crucial findings to enable the European Commission to endorse a government policy which finally appeared in the Finance Act, 2015 – the approval was granted in an official document released by the EU in October 2015 which cites Professor Wilson’s work.”
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