The Application for and the Awarding of Low-Interest Credits to Finance R&D Projects

The Application for and the Awarding of Low-Interest Credits to Finance R&D Projects The objective of this paper is twofold: first, to analyze the determinants of firms’ applications for low-interest credits to finance their research and development projects; and second, to study the award decision by the public agency. The results obtained for a sample of Spanish firms suggest that young firms, exporters, companies that belong to a high or medium-tech industry, and especially firms with previous experience in similar programs have a higher probability of applying for a credit. As for the award process, the most important effects are related to the technological and economic potential of the proposal, providing evidence that the agency tries to select the best projects. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

The Application for and the Awarding of Low-Interest Credits to Finance R&D Projects

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Publisher
Springer Journals
Copyright
Copyright © 2010 by Springer Science+Business Media, LLC.
Subject
Economics; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1007/s11151-010-9263-7
Publisher site
See Article on Publisher Site

Abstract

The objective of this paper is twofold: first, to analyze the determinants of firms’ applications for low-interest credits to finance their research and development projects; and second, to study the award decision by the public agency. The results obtained for a sample of Spanish firms suggest that young firms, exporters, companies that belong to a high or medium-tech industry, and especially firms with previous experience in similar programs have a higher probability of applying for a credit. As for the award process, the most important effects are related to the technological and economic potential of the proposal, providing evidence that the agency tries to select the best projects.

Journal

Review of Industrial OrganizationSpringer Journals

Published: Oct 30, 2010

References

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