Contribuzione pubblica e creazione di Valore Aggiunto nelle imprese italiane. Un'analisi empirica

Serra M;MULAS, LAURA;MURA, ALESSANDRO

2012-01-01

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Abstract

This study investigates how government grants impact the value added (VA) creation of beneficiary firms. The analysis compares the accounting performance realized during the period 2002-2009 by two groups of manufacturing Italian firms that are similar in many respects apart from the fact that the control group does not benefit from external subsidies. The results of various statistical tests reinforce each other in showing that the receipt of government grants does not increase the level of VA added of beneficiary firms. In addition, as the amount of government grants increases it appears a decrease in the VA. This evidence significantly questions the real effectiveness of such policies in supporting the business sector