Assessing the effectiveness of the Eureka Program
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.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-54, July.
- Ralph Siebert, 1996. "The Impact of Research Joint Ventures on Firm Performance: An Empirical Assessment," CIG Working Papers FS IV 96-03, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
- J. Vicente Blanes & Isabel Busom, 2004.
"WHO PARTICIPATES IN R&D SUBSIDY PROGRAMS?. The case of Spanish Manufacturing Firms,"
wpdea0407, Department of Applied Economics at Universitat Autonoma of Barcelona.
- Blanes, J. Vicente & Busom, Isabel, 2004. "Who participates in R&D subsidy programs?: The case of Spanish manufacturing firms," Research Policy, Elsevier, vol. 33(10), pages 1459-1476, December.
- Klette, T.J. & Moen, J., 1998.
"From Growth Theory to Technology Policy -Coordination Problems in Theory and Practice,"
20/98, Norwegian School of Economics and Business Administration-.
- Tor Jakob Klette & Jarle Møen, 1999. "From Growth Theory to Technology Policy - Coordination Problems in Theory and Practice," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 25, pages 53-74.
- Tor Jakob Klette & Jarle Møen, 1998. "From Growth Theory to Technology Policy – Coordination Problems in Theory and Practice," Discussion Papers 219, Statistics Norway, Research Department.
- Luukkonen, Terttu, 2000. "Additionality of EU framework programmes1," Research Policy, Elsevier, vol. 29(6), pages 711-724, June.
- George, Gerard & Zahra, Shaker A. & Wood, D. Jr., 2002. "The effects of business-university alliances on innovative output and financial performance: a study of publicly traded biotechnology companies," Journal of Business Venturing, Elsevier, vol. 17(6), pages 577-609, October.
- Jeffrey M. Wooldridge, 2001.
"Econometric Analysis of Cross Section and Panel Data,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262232197, June.
- Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, June.
- Hagedoorn, John & Cloodt, Myriam, 2003. "Measuring innovative performance: is there an advantage in using multiple indicators?," Research Policy, Elsevier, vol. 32(8), pages 1365-1379, September.
- Branstetter, Lee & Sakakibara, Mariko, 1998. "Japanese Research Consortia: A Microeconometric Analysis of Industrial Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 46(2), pages 207-33, June.
- Georghiou, Luke & Roessner, David, 2000. "Evaluating technology programs: tools and methods," Research Policy, Elsevier, vol. 29(4-5), pages 657-678, April.
- Luukkonen, Terttu, 1998. "The difficulties in assessing the impact of EU framework programmes," Research Policy, Elsevier, vol. 27(6), pages 599-610, September.
- Czarnitzki, Dirk & Hussinger, Katrin, 2004. "The Link Between R&D Subsidies, R&D Spending and Technological Performance," ZEW Discussion Papers 04-56, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Beneito, Pilar, 2006. "The innovative performance of in-house and contracted R&D in terms of patents and utility models," Research Policy, Elsevier, vol. 35(4), pages 502-517, May.
- Huggins, Robert, 2001. "Inter-firm network policies and firm performance: evaluating the impact of initiatives in the United Kingdom," Research Policy, Elsevier, vol. 30(3), pages 443-458, March.
- Klette, T.J. & Moen, J. & Griliches, Z., 1999. "Do Subsidies to Commercial R&D Reduce Market Failures? Microeconometric Evaluation Studies," Papers 16/99, Norwegian School of Economics and Business Administration-.
- Marin, Pedro L. & Siotis, Georges, 2008. "Public policies towards Research Joint Venture: Institutional design and participants' characteristics," Research Policy, Elsevier, vol. 37(6-7), pages 1057-1065, July.
- Arellano, Manuel & Bond, Stephen, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,"
Review of Economic Studies,
Wiley Blackwell, vol. 58(2), pages 277-97, April.
- Tom Doan, . "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
- Adam B. Jaffe, 2002. "Building Programme Evaluation into the Design of Public Research-Support Programmes," Oxford Review of Economic Policy, Oxford University Press, vol. 18(1), pages 22-34, Spring.
- Benfratello, Luigi & Sembenelli, Alessandro, 2002. "Research joint ventures and firm level performance," Research Policy, Elsevier, vol. 31(4), pages 493-507, May.
- Salter, Ammon J. & Martin, Ben R., 2001. "The economic benefits of publicly funded basic research: a critical review," Research Policy, Elsevier, vol. 30(3), pages 509-532, March.
When requesting a correction, please mention this item's handle: RePEc:eee:respol:v:39:y:2010:i:10:p:1375-1386. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.