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Impact of public R&D financing on private R&D, does financial constraint matter ?

Label
Impact of public R&D financing on private R&D, does financial constraint matter ?
resource.governmentPublication
unknown if item is government publication
Index
no index present
Literary Form
non fiction
Main title
Impact of public R&D financing on private R&D
Medium
electronic resource
Oclc number
1232984475
Series statement
ENEPRI working paper ;, 30
Sub title
does financial constraint matter ?
Summary
This study analyses how public R&D financing impacts companies.Its main goal is to study whether public and private R&D financing are substitutes or complements, and whether this impact differs between financially constrained and unconstrained companies. The company-level panel data cover the period from 1996 to 2002. The statistical method employed in the research takes into account the possibility that receiving public support may be an endogenous factor.The results suggest that public R&D financing does not crowd out privately financed R&D. Instead, receiving a positive decision to obtain public R&D funds increases privately financed R&D. Furthermore, The results suggest that this additionality effect is bigger in large firms than in small firms