Grants, Enterprise Innovativeness and Efficiency

Sabina Zampa and Štefan Bojnec ()
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Sabina Zampa: University of Primorska, Slovenia

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Abstract: Purpose: This paper investigates associations between the grants, enterprise efficiency and innovativeness using a combination of enterprise accountancy data and unique in-depth enterprise level survey data. Enterprises in Slovenia can obtain investment and research and development grants from different Slovenian and European Union funds. The focus of the study is on grants for co-financing of purchases of new technological equipment with aim to increase enterprise innovativeness and production of new products. Methodology: The paper employs unique in-depth survey analysis conducted in the enterprises, which have received grants for innovation activities. The focus of the analysis is on the following four economic-financial indicators: total revenues, number of employees, values of profit and value-added per employee. The principal component analysis and multiple regression analysis are used to test the hypotheses on increase of the value of the four economic-financial indicators and their comparisons. Findings: During the period 2006-2011, in Slovenia, there were 793 enterprises, which received more than 135.3 million euro of grants. The principal component analysis revealed four principal components: supports for innovativeness, procedures and standards for innovation, innovation as condition and the ways of innovation. The multiple regression analysis confirmed the association between innovativeness as a condition and enterprise efficiency, but not for the other three principal components. Originality: This is the first research to combine enterprise accounts, grants and survey data in order to quantify the impact of grants from public procurements on the economic-financial indicators and on innovativeness. The originality represents the empirical analysis combining secondary enterprise accounts and public procurement data with unique in-depth survey enterprise level data.

Keywords: grants; enterprise innovativeness; enterprise economic-financial efficiency; Slovenia (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:tkp:tiim13:s3_189-202

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