We investigate the misuse of R&D subsidies and evaluate its consequences for policy effectiveness. Developing a theoretical framework and using Chinese firm-level data for 2001-2011, we identify that 42% of…
Drawing on a longitudinal database of Belgian firms over the years 2014-2020, this study investigates the joint effect of R&D grants and R&D tax credits on R&D inputs and innovation outputs. We estimate…
After the beginning of the war in Ukraine, energy prices in Germany increased drastically. The paper analyses responses of German firms to this energy price shock. A variety of measures and reactions at the…
We explore which start-ups win in public procurement. Most notably, our analysis presents significant differences between firms applying for tenders with and without functional criteria. First, we use…
This paper shows that angel investor grants encourage new investors to enter the risk finance market, where they syndicate investments with other investors. We argue that this results from the high cost of…
