Public Aid and the Performance of Born Globals

Aides publiques et performances des entreprises nées mondiales

Flora Bellone (), Catherine Laffineur () and Sophie Pommet
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Flora Bellone: GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur
Catherine Laffineur: GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur
Sophie Pommet: GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur

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Abstract: Analyses of born‑global firms have not yet provided a comprehensive picture of the role of public aid in supporting those firms that specifically seek to internationalize early and intensively. To fill this gap, this paper uses a unique dataset that combines comprehensive infor- mation about both the production and export activities of newly established French manufactur- ing firms and a variety of public support instruments allocated to those firms by Bpifrance, the French public investment bank. Our key result is that French born globals are less likely than their more traditional exporting counterparts to receive public aid dedicated to generally sup- port their investment projects. By contrast, they are as or more likely to receive public aids spe- cifically dedicated to support their innovation and internationalization projects. We also show that the returns on aid dedicated to investment projects are especially high for born globals. We conclude that there is room to improve the allocative efficiency of public support towards born‑global firms

Keywords: born-global firms; public financial aids; firm-level data; export premia; subsidies; loans; subventions; prêts; primes à l'exportation; données entreprises; aides financières publiques; entreprises nées mondiales (search for similar items in EconPapers)
Date: 2023
Note: View the original document on HAL open archive server: https://insee.hal.science/hal-05196245v1
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Published in Economie et Statistique / Economics and Statistics, 2023, 540, pp.43 - 60. ⟨10.24187/ecostat.2023.540.2102⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05196245

DOI: 10.24187/ecostat.2023.540.2102

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