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Selective subsidies, entrepreneurial founders' human capital, and access to R&D alliances

机译：选择性补贴，创业者的人力资本以及与研发联盟的联系

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摘要

We investigate if and to what extent the receipt of a "selective" subsidy - a public subsidy awarded through a competitive procedure - helps new technology-based firms (NTBFs) to access R&D alliances. In particular, we theoretically enquire and empirically analyze which founding team-level characteristics allow NTBFs to: i) get a selective subsidy; and ii) access an R&D alliance with another firm or a public research organization/university, once the subsidy is awarded. We use a sample of 902 NTBFs that operate in Italy, where industrial policy has never had an explicit and exclusive mandate neither for targeting NTBFs nor for easing their access to R&D networks. By means of several identification strategies and estimation methods, our results point to the relevance of selective subsidies in facilitating NTBFs to enter R&D alliances, independently from the objective of the policy measure. Second, founders' technical education figures as a key determinant to get the first selective subsidy. Finally, founders' previous industry-specific work experience allows NTBFs to better exploit the selective subsidy, by positively moderating the impact of the subsidy on the likelihood to establish a corporate R&D alliance.
机译：我们调查“选择性”补贴（通过竞争程序授予的公共补贴）的接收是否以及在何种程度上有助于新技术公司（NTBF）进入研发联盟。特别是，我们从理论上进行询问和经验分析，哪些创始团队水平的特征使NTBF能够：i）获得选择性补贴； ii）一旦获得补贴，便与另一家公司或公共研究组织/大学建立研发联盟。我们使用了在意大利运营的902个NTBF的样本，那里的工业政策从来没有明确和排他性的命令，既没有针对NTBF的要求，也没有为了简化它们对R＆D网络的访问。通过几种识别策略和估计方法，我们的结果表明，与政策措施的目标无关，选择性补贴在促进NTBF进入研发联盟方面的相关性。其次，创始人的技术教育数字是获得第一笔选择性补贴的关键决定因素。最后，创始人以前的特定行业工作经验使NTBF能够积极地调节补贴对建立公司R＆D联盟的可能性的影响，从而更好地利用选择性补贴。

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