HUI Working Papers, HUI Research
No 24:
Do Regional Investment Grants Improve Firm Performance? - Evidence from Sweden
Mattias Ankarhem, Sven-Olov Daunfeldt, Shahiduzzaman Quoreshi and Niklas Rudholm
Abstract: The effect of Swedish regional investment grants during
1990-1999 on firm performance, in terms of returns on equity and number of
employees, were studied using a propensity-score matching-method to control
for sample selection. Firms that received grants did not perform better in
terms of returns on equity when compared to matched firms in the control
group. In most years, recipient firms also did not hire more employees. The
results thus cast doubt on the use of regional investment grants as a
general policy instrument to improve firm performance.
Keywords: Economic efficiency; propensity score matching; sample selection; logit regression; panel data; (follow links to similar papers)
JEL-Codes: R11; R58; (follow links to similar papers)
19 pages, November 1, 2009
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Ankarhem, Mattias, Sven-Olov Daunfeldt, Shahiduzzaman Quoreshi and Niklas Rudholm, (2010), 'Do Regional Investment Grants Improve Firm Performance? - Evidence from Sweden', Technology and Investment, Vol. 1, August, No. 3, pages 7
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