Berlinger, Edina; Lovas, Anita; Juhász, Péter - 2014
It is a highly disputed question in the literature how state subsidy influences the behavior of the entrepreneurs and … three-player model (entrepreneur, bank, state) that under moral hazard and positive externalities state subsidy creates …. However, in this model the concrete form of the state subsidy is totally irrelevant as all forms will lead exactly to the same …