EconPapers    
Economics at your fingertips  
 

Innovation Performance and the Signal Effect: Evidence from a European Program

Aurélien Quignon and Nadine Levratto ()

No 2021-34, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: This paper seeks to estimate the effect of a European policy that subsidizes innovation investments. By carefully selecting observables, we compare recipients of the program with non-recipient firms to overcome the endogeneity of R&D grants. We conduct a difference-in-differences design on the universe of a unique firm-level dataset of European SMEs between 2008 and 2017. We find a significant effect of proof of concept grants, which implies an increase in the number of patentapplications and the probability of patenting. There are positive impacts on credit financing, which suggest a signal effect to investors about the project quality of young firms.

Keywords: R&D subsidies; Innovation; Patent; Financing constraints; H2020 (search for similar items in EconPapers)
JEL-codes: G28 G32 O30 O38 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2021
New Economics Papers: this item is included in nep-ent, nep-eur, nep-ino, nep-ipr, nep-ppm, nep-sbm and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://xtra.economix.fr/pdf/dt/2021/WP_EcoX_2021-34.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:drm:wpaper:2021-34

Access Statistics for this paper

More papers in EconomiX Working Papers from University of Paris Nanterre, EconomiX Contact information at EDIRC.
Bibliographic data for series maintained by Valerie Mignon ().

 
Page updated 2022-11-26
Handle: RePEc:drm:wpaper:2021-34