This paper evaluates the current focus of EU policy makers on small and medium-sized, young independent
firms in high-tech sectors. Therefore, the effect of subsidies on both R&D input and R&D
output is compared between independent high-tech young firms (NTBFs), independent low-tech
young firms (LTBFs) and their non-independent counterparts. A treatment effects analysis reveals
that full crowding-out with regard to public funding is rejected for all firm types. However, the treatment
effect is highest for independent high-tech firms. The indirect effect of subsidies on R&D output
is evaluated within a patent production framework. These results show that independent high-tech
firms have no lower output effects than other firms and thus suggest that the current policy focus on
certain firm types is not ineffective.
Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.
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