Going Public with Public Money

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

No 20-4, UNCG Economics Working Papers from University of North Carolina at Greensboro, Department of Economics

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 (search for similar items in EconPapers)
JEL-codes: G11 G32 O31 O38 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2020-04-16
New Economics Papers: this item is included in nep-ore
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Persistent link: https://EconPapers.repec.org/RePEc:ris:uncgec:2020_004

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