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This is the accepted manuscript (post-print version) of the article.Contentwise, the post-print version is identical to the final published version, but there may be differences in typography and layout.

The present paper examines the relation between size, accumulation and performance for research grants, where we examine the relation between grant size for Centres of Excellence (CoE) funded by the Danish National Research Foundation (DNRF) and various ex post research performance measures, including impact and shares of highly cited articles. We examine both the relation between size and performance and also how performance for CoEs evolves over the course of grant periods. In terms of dynamics, it appears that performance over the grant period (i.e. 10 years) is falling for the largest CoEs, while it is increasing for those among the smallest half. Overall, multivariate econometric analysis finds evidence that performance is increasing in grant size and over time. In both cases, the relation appears to be non-linear, suggesting that there is a point at which performance peaks. The CoEs have also been very successful in securing additional funding, which can be viewed as a ‘cumulative effect’ of center grants. In terms of new personnel, the far majority of additional funding is spent on early career researchers, hence, this accumulation would appear to have a ‘generational’ dimension, allowing for scientific expertise to be passed on to an increasing number of younger researchers.

In the past few decades, there has been increasing interest in public private collaboration, which has motivated lengthy discussion of the implications of collaboration in general, and co-authorship in particular, for the scientific impact of research. However, despite this strong interest in the topic, there is little systematic knowledge on the relation between public private collaboration and citation impact. This paper examines the citation impact of papers involving public-private collaboration in comparison with academic research papers. We examine the role of a variety of factors, such as international collaboration, the number of co-authors, academic disciplines, and whether the research is mainly basic or applied. We first examine citation impact for a comprehensive dataset covering all Web of Science journal articles with at least one Danish author in the period 1995-2013. Thereafter, we examine whether citation impact for individual researchers differs when collaborating with industry compared to work only involving academic researchers, by looking at a fixed group of researchers that have both engaged in public-private collaborations and university-only publications. For national collaboration papers, we find no significant difference in citation impact for public-only and public-private collaborations. For international collaboration, we observe much higher citation impact for papers involving public-private collaboration.