Financing Innovation: Evidence from RaD Grants
TLDR
This article conducted the first large-sample, quasi-experimental evaluation of R&D subsidies and used data on ranked applicants to evaluate the effectiveness of the subsidies and the quality of the applications.Abstract:
Governments regularly subsidize new ventures to spur innovation. This paper conducts the first large-sample, quasi-experimental evaluation of R&D subsidies. I use data on ranked applicants...read more
Citations
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Assessing the Energy-Efficiency Gap
TL;DR: In this paper, the authors survey the relevant literature on energy efficiency gap by presenting two complementary frameworks: market failures, behavioral explanations, and model and measurement errors, and organize previous research in terms of the fundamental elements of cost-minimizing energy-efficiency decisions.
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Finance and Corporate Innovation: A Survey
TL;DR: In this article, the authors provide a synthetic and evaluative monograph of academic papers that examine the drivers and financing sources of corporate innovation, and provide a survey of the top three finance journals that published a total of only five papers on corporate innovation from 2000 to 2008, the number of such papers published by these three journals skyrocketed to 56 from 2009 to the third quarter of 2017.
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The distinct signaling effects of R&D subsidy and non-R&D subsidy on IPO performance of IT entrepreneurial firms in China
TL;DR: In this article, the authors investigated how R&D subsidy and non-R&D subsidies affect entrepreneurial firms' initial public offering (IPO) performance in an emerging economy like China.
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Does green investment improve energy firm performance
Yufeng Chen,Yanbai Ma +1 more
TL;DR: Wang et al. as mentioned in this paper explored the relationship between green investment and financial performance through micro-level data and found that green investment has a significant and positive correlation with financial performance, that is, increasing green investment helps improve financial performance.
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Governments as partners: The role of alliances in U.S. cleantech startup innovation
TL;DR: In this paper, the authors propose and evaluate the value-creation mechanisms of network resources from different types of partners for startups, highlighting the unique resources of government partners for cleantech startups.
References
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Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?
Steven N. Kaplan,Luigi Zingales +1 more
TL;DR: In this article, the authors investigated the relationship between financing constraints and investment-cash flow sensitivities by analyzing the firms identified by Fazzari, Hubbard, and Petersen as having unusually high investment cash flow sensitivity.
Posted Content
Market value and patent citations
TL;DR: Hall et al. as mentioned in this paper explored the usefulness of patent citations as a measure of the "importance" of a firm's patents, as indicated by the stock market valuation of the firm's intangible stock of knowledge.
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Regression discontinuity designs in economics
David S. Lee,Thomas Lemieux +1 more
TL;DR: In this paper, the authors provide an introduction and user guide to regression discontinuity (RD) designs for empirical researchers, and discuss the advantages and disadvantages of estimating RD designs and the limitations of interpreting these estimates.
Journal ArticleDOI
Regression Discontinuity Designs: A Guide to Practice
Guido W. Imbens,Thomas Lemieux +1 more
TL;DR: In regression discontinuity (RD) as mentioned in this paper, assignment to a treatment is determined at least partly by the value of an observed covariate lying on either side of a fixed threshold.
Journal ArticleDOI
Financial Constraints Risk
Toni M. Whited,Guojun Wu +1 more
TL;DR: The authors construct an index of firms' external finance constraints via generalized method of moments (GMM) estimation of an investment Euler equation, and explore the impact of financial constraints on their stock returns.