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The impact of hard and soft policy measures on new technology-based firms

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  • Laura Ramaciotti
  • Alessandro Muscio
  • Ugo Rizzo

Abstract

The impact of hard and soft policy measures on new technology-based firms. Regional Studies. Entrepreneurship policies in support of new technology-based firms fall into two main categories of intervention: hard measures (financial-type support such as loans and grants) and soft measures (counselling and business advice services). This study investigates the association between hard and soft support measures delivered to entrepreneurs, and the performance of the subsequently constituted new technology-based firms. The empirical framework analyses the outcomes of the Spinner Programme – a regional policy measure implemented in the Italian region of Emilia-Romagna during 2000–06. The analysis finds that soft measures are positively related to a higher probability of exiting the market and to higher sales growth. The results also show that the magnitude of the effect of soft measures on growth is greater than the effect of hard measures.

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  • Laura Ramaciotti & Alessandro Muscio & Ugo Rizzo, 2017. "The impact of hard and soft policy measures on new technology-based firms," Regional Studies, Taylor & Francis Journals, vol. 51(4), pages 629-642, April.
    • Handle: RePEc:taf:regstd:v:51:y:2017:i:4:p:629-642
    DOI: 10.1080/00343404.2016.1255319
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    Cited by:

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    2. Alessandro Muscio & Sotaro Shibayama & Laura Ramaciotti, 2022. "Universities and start-up creation by Ph.D. graduates: the role of scientific and social capital of academic laboratories," The Journal of Technology Transfer, Springer, vol. 47(1), pages 147-175, February.
    3. Sarah Cheah & Cristiano Bellavitis & Alessandro Muscio, 2021. "The impact of technology complexity on the financial performance of R&D projects: evidence from Singapore," The Journal of Technology Transfer, Springer, vol. 46(2), pages 431-458, April.
    4. Jankowska, Barbara & Staliński, Adam & Trąpczyński, Piotr, 2021. "Public policy support and the competitiveness of the renewable energy sector – The case of Poland," Renewable and Sustainable Energy Reviews, Elsevier, vol. 149(C).

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