Estimating the effects of public subsidies on the performance of supported enterprises across firm sizes

IF 2.9 4区管理学 Q1 INFORMATION SCIENCE & LIBRARY SCIENCE

Research Evaluation Pub Date : 2021-03-03 DOI:10.1093/RESEVAL/RVAB004

O. Dvouletý, I. Blažková, Oto Potluka

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引用次数: 5

Abstract

Only a few studies consider heterogeneity in the effects of investment grants (subsidies) across firm size. Therefore, we investigate the effects of particular public policy on firm-level performance with a focus on firm size heterogeneity as an important determinant. We aim to investigate whether the larger-sized firms benefit from the direct financial assistance to a lesser extent when compared with micro- and small-sized firms. Specifically, we study the microeconomic effects of the Czech Operational Programme Enterprise and Innovation (OPEI) that was implemented during the period of 2007–13. Compared to previous studies, we work with a large firm-level dataset, consisting of 13,924 firms, of which 3,572 are supported firms (57% of beneficiaries of the OPEI programme). We implement the propensity score matching in combination with a difference in differences approach. We measure the overall financial performance of firms by using tangible fixed assets and their depreciation, sales, return on assets, and total factor productivity. While there are improvements in all evaluated indicators for microenterprises 2 years after the end of the programme, there are only minor positive effects of subsidies for larger enterprises.

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估计公共补贴对不同企业规模的支持企业绩效的影响

只有少数研究考虑到投资补助(补贴)在企业规模上的影响的异质性。因此，我们研究了特定公共政策对企业绩效的影响，并将重点放在企业规模异质性这一重要决定因素上。我们的目的是调查与微型和小型企业相比，大型企业是否从直接财政援助中受益较少。具体而言，我们研究了2007-13年期间实施的捷克业务计划企业与创新(OPEI)的微观经济效应。与之前的研究相比，我们使用了一个大型的公司级数据集，由13,924家公司组成，其中3,572家是受支持的公司(占OPEI计划受益者的57%)。我们将倾向得分匹配与差中差方法相结合。我们通过使用有形固定资产及其折旧、销售额、资产收益率和全要素生产率来衡量企业的整体财务绩效。虽然在方案结束两年后微型企业的所有评价指标都有所改善，但对大型企业的补贴只产生了很小的积极影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Research Evaluation INFORMATION SCIENCE & LIBRARY SCIENCE-

CiteScore

6.00

自引率

18.20%

发文量

期刊介绍： Research Evaluation is a peer-reviewed, international journal. It ranges from the individual research project up to inter-country comparisons of research performance. Research projects, researchers, research centres, and the types of research output are all relevant. It includes public and private sectors, natural and social sciences. The term "evaluation" applies to all stages from priorities and proposals, through the monitoring of on-going projects and programmes, to the use of the results of research.