Going public with public money

Albert Link, Martijn van Hasselt and Silvio Vismara ()
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Silvio Vismara: University of Bergamo

Small Business Economics, 2021, vol. 57, issue 3, No 17, 1419-1426

Abstract: Abstract We analyze what we consider to be an unanticipated consequence of the SBIR program, namely, that firms, publicly funded through the SBIR program, are going public based on their new technology developed with support from the SBIR program. There is a conspicuous void with regard to publicly funded firms that do go public. Through the estimation of a qualitative choice model, we identify firm and project characteristics that are associated with an increased likelihood of a firm making (or planning to make) an initial public offering (IPO).

Keywords: IPO; SBIR program; Technology; Program evaluation; Public sector; G11; G32; L26; O31; O38 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (6)

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Working Paper: Going Public with Public Money (2020)
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DOI: 10.1007/s11187-020-00355-7

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