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首页> 外文期刊>Research policy >Inside the black box of outcome additionally: Effects of early-stage government subsidies on resource accumulation and new venture performance
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Inside the black box of outcome additionally: Effects of early-stage government subsidies on resource accumulation and new venture performance

机译：在结果黑匣子内：早期政府补贴对资源积累和新企业绩效的影响

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摘要

This paper examines the outcome additionality of prestigious early-stage government subsidies. Drawing on arguments from liabilities of newness and certification literatures we develop a mediated model that unpacks the outcome additionality of the subsidy. We hypothesize that subsidized new ventures attract more human and financial capital than their non-subsidized counterparts because the association with a prestigious government organization signals legitimacy of the new venture. Such legitimacy is crucial for attracting qualified employees and financiers. The effect of the access to human and financial capital, in turn, has long-term and substantial influence on performance, whereas the effect of the subsidy itself is marginal and short-lived. Applying a novel matching approach, we compare 130 approved applicants of a prestigious government subsidy with a control group of 154 applications rejected at the very last stage, thereby overcoming some of the selection and endogeneity biases associated with similar studies. The hypothesized model receives strong support by the data. These findings have several implications for government support of new ventures as well as scholars in the field.
机译：本文研究了享有声望的早期政府补贴的结果附加性。借鉴新奇和认证文献中的责任，我们开发了一种中介模型，该模型解开了补贴的结果额外性。我们假设，有补贴的新企业比无补贴的企业吸引了更多的人力和财务资本，因为与享有盛誉的政府组织的联姻表明了新企业的合法性。这种合法性对于吸引合格的员工和金融家至关重要。反过来，获得人力和财务资本的影响对绩效产生了长期而实质的影响，而补贴本身的影响则是短暂的和短暂的。我们采用一种新颖的匹配方法，将130个享有盛名的政府补贴的批准申请人与154个在最后阶段被拒绝的对照组进行了比较，从而克服了与类似研究相关的一些选择和内生性偏见。假设模型得到了数据的有力支持。这些发现对政府对新企业以及该领域学者的支持具有某些意义。

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  • 来源
    《Research policy》 |2015年第8期|1501-1512|共12页
  • 作者

    Anna Soederblom; Mikael Samuelsson; Johan Wiklund; Rickard Sandberg;

  • 作者单位

    Department of Management and Organization, Centre for Entrepreneurship, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden;

    Department of Management and Organization, Centre for Entrepreneurship, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden;

    Department of Management and Organization, Centre for Entrepreneurship, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden,Whitman School of Management, Syracuse University 720 University Ave, Suite 531, Syracuse, NY 13244, USA;

    Department of Economics, Centre for Economic Statistics Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden;

  • 收录信息 美国《科学引文索引》(SCI);美国《工程索引》(EI);
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    Government subsidies; Innovative startup firms; Outcome additionality; Liability of newness; Certification; Government policy;

    机译：政府补贴;创新创业公司;成果额外性;新颖性责任;认证;政府政策;

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