Do R&amp;D Subsidies Affect SMEs' Access to External Financing?

Meuleman, Miguel; Maeseneire, Wouter De

doi:10.2139/ssrn.1099346

Cited by 94 publications

(146 citation statements)

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“…2 Many authors have reported that R&D subsidies stimulate private investments (e.g. Almus and Czarnitzki, 2003;Hyytinen and Toivanen, 2005;Czarnitzki, 2006;Görg and Strobl, 2007;Özçelik and Taymaz, 2008;Aerts and Schmidt, 2008;Hussinger, 2008;Meuleman and Maeseneire, 2012;Czarnitzki and Lopes-Bento, 2013), but studies have also found that these funds partly or fully crowd out some private investments (e.g. Wallsten, 2000;Lach, 2002;Busom, 2000;González and Pazó, 2008;Gelabert et al, 2009 Bronzini andIachini, 2014).…”

Section: Introductionmentioning

confidence: 99%

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R&D subsidies and productivity in SMEs

Karhunen

Huovari

2015

Small Bus Econ

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This dissertation consists of an introductory chapter and four separate empirical studies which study higher education and productivity in Finland. Introductory chapter presents shortly the motivation, background and main results of this thesis. First three articles focus on the relationship between working while studying, dropout behavior and later labor market outcomes at individual level. Fourth article examines how subsidies affect labor productivity at the firm level.The first article of this thesis studies how working while studying relates to earnings after graduation from university or polytechnic. Analysis focuses on working while studying and earnings over two year period after graduation. The results show that early work experience is related to higher earnings right after graduation year, but instrumental variable estimations find no significant causal effect for university students.The second article explores on the relationship between working while studying and migration. Migration propensities are studied up to three years after graduation. Results show that working while studying can partly explain why the mobility of highly educated people has declined. We find that that there are differences by study region and earlier migration behavior.The third article examines the relationship between the decision to drop out from university and labor market outcomes. Results indicate that compared to similar university graduates, the dropouts' annual earnings are on average 11,000 euros lower four years after the dropout decision. Dropouts have also a higher probability of being self-employed than similar graduates.The fourth article examines the effect of R&D subsidies on labour productivity. Study uses firm-level data on Finnish SMEs from 2000 to 2012 and apply a combined matching and difference-in-differences method to control for selection bias. Study does not find significant positive effect on labour productivity over the five-year period after a subsidy is granted.

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Section: Introductionmentioning

confidence: 99%

“…David et al, 2000;Klette et al, 2000;Meuleman and Maeseneire, 2012). Because we cannot directly compare group means, we need to find comparable subsidised and unsubsidised firms.…”

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confidence: 99%

R&D subsidies and productivity in SMEs

Karhunen

Huovari

2015

Small Bus Econ

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“…For instance, government funding (i.e. subsidy) can provide a good signal for firms to acquire external private funding (Meuleman and De Maeseneire 2012). Obtaining a government grant may indicate to banks or other external private financial institutions that the investment is worthwhile.…”

Section: The Net Effect Of Government Support For Randdmentioning

confidence: 99%

Value for Money: Budget and financial management reform in the People's Republic of China, Taiwan and Australia

Podger

Wanna

et al. 2018

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“…His study showed that the firms who got awards from the government grew significantly faster than matched firms, which means the awards had a positive influence. Meuleman and De Maeseneire [18] examined the impact of R&D subsidies on the access to external equity and debt financing of small firms by using a unique Belgian dataset. They found the R&D subsidies brought a positive effect both on SME quality and access to long-term debt.…”

Section: Introductionmentioning

confidence: 99%

Measurement on the Complexity Entropy of Dynamic Game Models for Innovative Enterprises under Two Kinds of Government Subsidies

Sui

Lei

2016

Entropy

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Abstract:In this paper, setting the high-tech industry as the background, we build a dynamic duopoly game model in two cases with different government subsidies based on the innovation inputs and outputs, respectively. We analyze the equilibrium solution and stability conditions of the system, and study the dynamic evolution of the system under the conditions of different system parameters by the numerical simulation method. The simulation results show that both innovation subsidy policies have positive effects on firms' innovation activities. Besides, improving the level of innovation can encourage firms to innovate. It also shows that an exaggerated adjusting speed of innovation outputs may cause complicated dynamic phenomena such as bifurcation and chaos, which means that the system has relatively higher entropy than that in a stable state. The degree of the government innovation subsidies is also shown to impact the stability and entropy of the system.

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Do R&D Subsidies Affect SMEs' Access to External Financing?

Cited by 94 publications

References 1 publication

R&D subsidies and productivity in SMEs

R&D subsidies and productivity in SMEs

Value for Money: Budget and financial management reform in the People's Republic of China, Taiwan and Australia

Measurement on the Complexity Entropy of Dynamic Game Models for Innovative Enterprises under Two Kinds of Government Subsidies

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