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Assessing the effectiveness of the Eureka Program

  • Bayona-Sáez, Cristina
  • García-Marco, Teresa

The aim of this paper is to test whether participation in a European public initiative to support market-oriented R&D, such as the Eureka Program, has a positive impact on the performance of participating firms and, if so, how long it is before the impact becomes apparent. These issues are explored using a dynamic panel data model covering the period 1994-2003, for a sample of 866 European firms, 284 of which completed a Eureka project during the period of analysis. The results show how the completion of a Eureka project has a positive influence over firm performance measured as return over assets (ROA), although the effect does not manifest itself until a year after project completion. Nevertheless, when the sample is divided by sector, it is obtained that, while manufacturing firms follow the general pattern of a positive effect appearing a year after project completion, the effect in non-manufacturing firms is already apparent during the year of completion.

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Article provided by Elsevier in its journal Research Policy.

Volume (Year): 39 (2010)
Issue (Month): 10 (December)
Pages: 1375-1386

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Handle: RePEc:eee:respol:v:39:y:2010:i:10:p:1375-1386
Contact details of provider: Web page: http://www.elsevier.com/locate/respol

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