Who Benefits From the Governmental Support Policy for Innovative Firms and for How Long? Evidence From the Korean Venture Certification Program

IF 0.9 Q3 ECONOMICS

INTERNATIONAL ECONOMIC JOURNAL Pub Date : 2020-10-01 DOI:10.1080/10168737.2020.1839940

Hanhyung Pyo, Minsoo Park

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引用次数: 1

Abstract

ABSTRACT This study evaluates the effects of the government’s support policies for innovative firms, for which small firms are eligible by way of a venture certification program in Korea. We analyze whether the effects of the innovative firms’ policies are heterogeneous across several dimensions. Specifically, we examine how policy effects vary along with the venture certification types, firm size, and age. We assess the short- and long-term effects of the certification program on the performance of certified firms. We find that the program is likely to help innovative and young firms enhance their sales, employment and labor productivity over time. Moreover, the impact of the program is bigger for firms that are financed by venture capital, smaller in size (less than 20 employees) and younger (less than 5 years). In contrast, the support policies for innovative firms were somehow ineffective for firms that are research and development-intensive, medium sized (more than 100 and less than 300 employees) or older (more than 10 years)

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谁从政府对创新企业的支持政策中受益？受益时间？来自韩国创业认证项目的证据

摘要本研究评估了政府对创新企业的支持政策的效果，韩国的小企业有资格通过风险认证计划获得这些政策的支持。我们分析了创新企业政策的影响是否在几个维度上是异质的。具体来说，我们研究了政策效果如何随着风险认证类型、公司规模和年龄的变化而变化。我们评估了认证计划对认证公司业绩的短期和长期影响。我们发现，随着时间的推移，该计划可能会帮助创新型和年轻型公司提高销售、就业和劳动生产率。此外，该计划对由风险投资资助、规模较小（员工少于20人）和较年轻（员工少于5年）的公司的影响更大。相比之下，对创新型企业的支持政策在某种程度上对研发密集型、中型（员工人数在100人以上、300人以下）或以上（10年以上）的企业无效

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来源期刊

INTERNATIONAL ECONOMIC JOURNAL Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

2.10

自引率

0.00%

发文量

期刊介绍： International Economic Journal is a peer-reviewed, scholarly journal devoted to publishing high-quality papers and sharing original economics research worldwide. We invite theoretical and empirical papers in the broadly-defined development and international economics areas. Papers in other sub-disciplines of economics (e.g., labor, public, money, macro, industrial organizations, health, environment and history) are also welcome if they contain international or cross-national dimensions in their scope and/or implications.