The effects of regional capital subsidies on firm performance: an empirical study

The effects of regional capital subsidies on firm performance: an empirical study Capital subsidization is a widespread instrument of regional and industrial policy in Europe. A number of recent works have examined the influence of capital subsidization on the total factor productivity of recipient sectors and firms, and have provided strong evidence of neutral or even negative effects. The present study examines the effect of capital subsidization on four dimensions of the financial performance of firms, that is efficiency, profitability, capital structure, and growth, and provides evidence that capital subsidization affects solely firm growth. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Small Business and Enterprise Development Emerald Publishing

The effects of regional capital subsidies on firm performance: an empirical study

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
1462-6004
DOI
10.1108/14626000410519155
Publisher site
See Article on Publisher Site

Abstract

Capital subsidization is a widespread instrument of regional and industrial policy in Europe. A number of recent works have examined the influence of capital subsidization on the total factor productivity of recipient sectors and firms, and have provided strong evidence of neutral or even negative effects. The present study examines the effect of capital subsidization on four dimensions of the financial performance of firms, that is efficiency, profitability, capital structure, and growth, and provides evidence that capital subsidization affects solely firm growth.

Journal

Journal of Small Business and Enterprise DevelopmentEmerald Publishing

Published: Mar 1, 2004

Keywords: Financial performance; Capital; Greece

References

  • Measuring strategic performance
    Chakravarthy, B.S.
  • Age, order of entry, strategic orientation, and organizational performance
    Durand, R.; Coeurderoy, R.
  • Determinants of growth and profitability in small entrepreneurial firms
    Glancey, K.
  • Public policy and SME performance: the case of Northern Ireland in the 1990s
    Hart, M.; McGuiness, S.; O’Reilly, M.; Gudgin, G.
  • Ownership structure and firm performance: evidence from Israel
    Lauterbach, B.; Vaninsky, A.
  • Market share, profits and business strategy
    Laverty, K.

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