Business research and development: Is there a substitution effect of public support?
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Súbory
Dátum
2024
Názov časopisu
ISSN časopisu
Názov zväzku
Vydavateľ
Academic Conferences Internatonal Limited Reading, UK
ISBN
978-1-917204-14-9
978-1-917204-15-6
978-1-917204-15-6
ISSN
2049-1050
2049-1069
2049-1069
Abstrakt
The importance of research and development is reflected in the fact that one of the main priorities of the EU's development policies is increasing spending on research and development in EU member states (EC, 2010). Enterprises do not always have enough internal financial resources to launch their own innovation projects, and therefore they turn to external resource providers (Wang et al., 2016). The paper is aimed at examining the impact of corporate expenditures on R&D from the point of view of their funding sources and analysing the occurrence of the substitution effect of public support for R&D in EU 27 countries. These countries also have the highest level of public financing of research and development, that is, they use the public support of business innovations to the highest extent. The analysis showed that in the EU 27, the substitution effect of public support for research and development is not significant, or rather the complementarity of both types of expenditure prevails at the national level, as public funding of corporate research and development seems to have a positive effect on private research and development and investments. Our analysis is based on available secondary data for 27 EU member states. for a twenty-year observation period (2000-2020). The results have been achieved by using a methodology that includes cluster analysis, panel regression and correlation analysis. We bring new empirical evidence on the relationships between public support and business research and development expenditures. The research results showed the main sources of funding for corporate research and development. It concerns the business enterprises, government and abroad. The cluster analysis determined three clusters, divided according to the structure of the financing of R&D enterprises in EU countries. The results of the cluster analysis were partially in line with the current results of the European Innovation Review. Our findings provide policy implications for the public support policy.
Popis
In: Proceedings of the 19th European conference on innovation and entrepreneurship. Vol. 19, no. 1 (2024). 1. vyd. Reading : Academic Conferences International Limited, 2024. ISBN 978-1-917204-14-9. ISSN 2049-1050. Pp. 634-642.
Kľúčové slová
verejná podpora, public support verejnosť, public sphere, substitučný efekt, substitution effect
Výstup z projektu
APVV-20-0338 Hybné sily ekonomického rastu a prežitie firiem v šiestej K-vlne
VEGA 1/0411/24 Vplyv ekonomických nástrojov verejnej politiky na digitálnu pripravenosť podnikov
Citácia
DOI
Práva a licenčné podmienky
© autor
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess