Moon, Byunggeor - In: European Research on Management and Business Economics … 28 (2022) 3, pp. 1-10
subsequent external financing for technological innovation received by R&D firms. We address sample selection and endogeneity …&D grant programs. Our empirical results show that firms that receive R&D grants further receive 22%-32% less external … financing compared to those who do not receive R&D grants, though there are some differences in the statistical significance of …