International audienceThis study analyzes the effect of public R&D subsidies on private R&D expenditure in a sample of French firms during the period 1993–2009. We evaluate whether there is any input additionality of public R&D subsidies by distinguishing between R&D tax credit recipient and non-recipient firms. In addition, combining difference-in-differences with propensity score and exact (both simple and categorical) matching methods, we assess the effect of R&D subsidies between treated (subsidy recipients) and controls (subsidy non-recipients) as well as between differently treated (small, medium and large subsidy recipient) firms. Furthermore, we implement a dose–response matching approach to determine the optimality of public R&D subsidy provisions. We find evidence of either no additionality or substitution effects between public and private R&D expenditure. Crowding-out effects appear to be more pronounced for medium-high levels of public subsidies, and generally under the R&D tax credit regime. A number of robustness checks corroborate our main findings
Are Born Globals really different from firms with other start-up histories? We address this question based on a unique longitudinal data set that tracks all Danish manufacturing start-ups founded between 1994 and 2008 (23,201 firms). This novel application of register data allows us to provide the first detailed account of Born Globals compared to proper control groups of other start-ups. Chiefly we investigate firm performance, which in turn permits interference on socioeconomic impact. We find that the occurrence of BGs is not specific to certain sectors, nor does their frequency change in light of rapid ICT progress. However, we find that Born Globals have significantly higher turnover and employment levels as well as job growth rates. Moreover, they show a considerably wider market reach, but little to no productivity advantage compared to firms with less or later internationalization. Thus, Born Globals are special in some but not all aspects.
Using a cross-section of countries, we adapt Frankel and Romer's (1999) IV strategy to international labor mobility. Controlling for institutional quality, trade, and financial openness, we establish a robust and non-negative causal effect of immigration on real percapita income.
As the firm gravitates toward being the core in analyses of international trade, the possibilities for learning from cross‐disciplines studies increase. Managerial resources underlie export initiation in the theory of the multinational enterprise developed in international business studies, but they are largely ignored in empirical studies of international trade. This is probably not because they are unimportant, but more due to the challenges of identifying and measuring these resources. We exploit Danish employer–employee matched data to overcome this challenge and analyse the impact of managers' international experience, together with other managerial characteristics, on the likelihood that the firm starts exporting. We find that productivity and fixed costs associated with exporting are not the sole determinants of selection of firms into international markets, but that ‘managerial inputs’ are just as important. Our data allow us to identify manager export experience based on the CEO's historical career as documented in official registry statistics, a feature that makes our analysis different from other work that relies on self‐assessments.
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