Linear or Nonlinear? Investigation an Affect of Public Subsidies on SMEs R&D Investment

A Study on the Relationship between Public Subsidies and SMEs R&D Investment : Policy Effects and the Moderating Role of Firm Openness

Journal of Industrial Economics and Business ◽

10.22558/jieb.2020.2.33.1.291 ◽

2020 ◽

Vol 33 (1) ◽

pp. 291-317

Author(s):

Kiman Kim

Keyword(s):

Investment Policy ◽

Policy Effects ◽

Public Subsidies ◽

The Relationship ◽

D Investment ◽

Moderating Role ◽

Firm Openness

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The effect of public subsidies on corporate R&D investment: An application of the generalized propensity score

Technological Forecasting and Social Change ◽

10.1016/j.techfore.2014.04.014 ◽

2015 ◽

Vol 90 ◽

pp. 410-419 ◽

Cited By ~ 32

Author(s):

Xiaoyong Dai ◽

Liwei Cheng

Keyword(s):

Propensity Score ◽

Public Subsidies ◽

Generalized Propensity Score ◽

D Investment

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ASSESSING THE EFFECT OF PUBLIC SUBSIDIES ON FIRM R&D INVESTMENT: A SURVEY

Journal of Economic Surveys ◽

10.1111/j.1467-6419.2012.00738.x ◽

2012 ◽

Vol 28 (1) ◽

pp. 36-67 ◽

Cited By ~ 181

Author(s):

José Ángel Zúñiga-Vicente ◽

César Alonso-Borrego ◽

Francisco J. Forcadell ◽

José I. Galán

Keyword(s):

Public Subsidies ◽

D Investment

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IMPACT OF PUBLIC FUNDING ON A FIRM'S INNOVATION PERFORMANCE: ANALYSIS OF INTERNAL AND EXTERNAL MODERATING FACTORS

International Journal of Innovation Management ◽

10.1142/s136391961100374x ◽

2011 ◽

Vol 15 (06) ◽

pp. 1297-1322 ◽

Cited By ~ 15

Author(s):

JOSE ALBORS-GARRIGOS ◽

ROSA RODRIGUEZ BARRERA

Keyword(s):

Performance Analysis ◽

Public Funding ◽

Innovation Process ◽

Innovation Performance ◽

Mediating Effects ◽

Research Gaps ◽

Moderating Factors ◽

Public Subsidies ◽

Innovative Behaviour ◽

D Investment

This paper analyses the effect of public subsidies on a firm's innovation performance. The research aims at filling two research gaps. First, it will try to analyse the effect of public source funding directly on a firm's innovation performance analysing not the effects on R&D investment or intensity but on the final results of the innovative effort, its outcome. Secondly, it will examine the mediating effects of various (internal and external to the firm innovative behaviour) factors which influence the whole innovation process and, though have been identified by literature, its effects have not yet been properly quantified.

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Timely help or icing the cake? Revisiting the effect of public subsidies on private R&D investment in Taiwan

Value for Money: Budget and financial management reform in the People's Republic of China, Taiwan and Australia ◽

10.22459/vm.01.2018.16 ◽

2018 ◽

pp. 345-366

Author(s):

Hsini Huang ◽

Nailing Kuo

Keyword(s):

Public Subsidies ◽

D Investment

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The relation between R&D accounting treatment and the risk of the firm: Evidence from the Italian market

FINANCIAL REPORTING ◽

10.3280/fr2014-001002 ◽

2014 ◽

pp. 33-54 ◽

Cited By ~ 1

Author(s):

Riccardo Cimini ◽

Alessandro Gaetano ◽

Alessandra Pagani

Keyword(s):

Earnings Management ◽

Fiscal Year ◽

Investment Strategies ◽

Capital Assets ◽

Italian Market ◽

D Investment ◽

Firm Evidence

In this paper, we investigate the relation between the different accounting treatments of R&D expenditures and the risk of the entity in order to identify under which treatment insiders are more likely to carry out earnings management. By analysing the R&D investment strategies of a sample of 137 listed Italian entities that complied with the requirements of IAS 38 during fiscal year 2009, following Lantz and Sahut (2005), we calculate several indexes that show the preferences of insiders to account R&D expenditures as costs or capital assets, and we study the relation of such preferences with the risk of the entity, which we measure with the unlevered beta. We hypothesize that the entities, which considered the R&D investments as costs, are the riskiest ones due to the higher probability that insiders carried out earnings management. Our results confirm such hypothesis. This paper could have implications for academics and standard setters that could learn that behind accounting discretion, insiders could opportunistically behave against outsiders.

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