Funding innovation at regional level : an analysis of a public policy intervention in the Piedmont region

Auteur(s) et Affiliation(s)



Description :
This paper evaluates the attractiveness and efficiency of the public financing programme Documento Unico di Programmazione in the Piedmont region of Italy. First, it is found that leveraged firms are more likely to ask for public subsidies. Second, that firms willing to undertake investments in innovative equipment and machinery present lower costs and a higher life cycle of the projects to be financed. Third, that for those willing to investin RandD projects or show a high technological profile, the selection process seems to be influenced by firm profitability. Finally, it concludes that subsidized firms show an increase of indebtedness and of total fixed assets, while there is no evidence of any impact on firm profitability.


Type de document :
Article de périodique

Source :
Regional studies, issn : 0034-3404, 2014, vol. 48, n°. 2, p. 270-283, nombre de pages : 14, Références bibliographiques : 2 p.

Date :
2014

Editeur :
Pays édition : Royaume-Uni, Cambridge, Cambridge University Press