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on Intellectual Property Rights |
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Issue of 2021‒12‒13
one paper chosen by Giovanni Ramello Università degli Studi del Piemonte Orientale “Amedeo Avogadro” |
| By: | Aurélien Quignon; Nadine Levratto |
| Abstract: | This paper seeks to estimate the effect of a European policy that subsidizes innovation investments. By carefully selecting observables, we compare recipients of the program with non-recipient firms to overcome the endogeneity of R&D grants. We conduct a difference-in-differences design on the universe of a unique firm-level dataset of European SMEs between 2008 and 2017. We find a significant effect of proof of concept grants, which implies an increase in the number of patentapplications and the probability of patenting. There are positive impacts on credit financing, which suggest a signal effect to investors about the project quality of young firms. |
| Keywords: | R&D subsidies, Innovation, Patent, Financing constraints, H2020 |
| JEL: | G28 G32 O30 O38 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2021-34&r= |