The aim of this article is to assess the impact of public subsidies on the employment growth of new technology-based firms (NTBFs), contingent on (i) the type of policy scheme (either selective or automatic) and (ii) the age of the firms at the time of receipt of the subsidy. For this purpose,...

Do entrepreneurial ventures that adopt an open business model obtain VC finance from higher quality VC investors in comparison with entrepreneurial ventures that adopt a closed business model? Are VC investments in open business model ventures are more likely to be syndicated and more frequently...

The paper analyses the effect of public subsidies on firm investments, using a longitudinal sample of two hundred ninety-four Italian unlisted owner-managed new-technology- based firms (NTBFs) observed from 1994 to 2003. We have adopted a modified version of the Euler equation and the use of...

[fre] Cet article se propose de mettre en lumière les facteurs qui incitent les entreprises à recourir à des accords de coopération. L'étude repose sur une analyse économétrique d'un échantillon composé de 100 des plus grandes entreprises mondiales appartenant aux secteurs des...

This paper addresses the question of the efficacy of R&D policy measures in support of high-tech start-ups. We show that subsidies awarded on a competitive basis lead to a positive effect, while those assigned through an automatic procedure do not.

The paper considers the acquisition of a high-tech start-up and analyzes how the allocation of innovation decision-making powers has an impact on the post-acquisition innovation activity of the target firm. These powers may be delegated to the key inventors of the acquired firm or centralized by...

In this paper, we jointly analyze the effects of the human capital of founders and access to venture capital (VC) financing on the growth of 439 Italian new technology-based firms (NTBFs). We rely on econometric models that control for survivorship bias and the endogeneity of VC financing. As to...

The paper explores the reaction of new technology-based firms (NTBF) in Italy to the recent economic crisis. Using data from the RITA database on the Italian NTBF population founded since 1984, we document the consequences of the crisis in terms of: i) exit rates; ii) the growth rates of sales...

This book examines the issue of mergers and acquisitions (M&As) in the context of technological development, and in particular the impact of M&As on the innovation process. In so doing, the book integrates two bodies of literature, on M&As, and on innovation studies, a nexus which the editors...

This timely book brings together cutting-edge research on the important subject of science and innovation policies. The contributors – distinguished social science scholars – tackle the key challenges of designing and implementing public policies in the context of the new knowledge economy.