Importance of EU regional support programmes for firm performance*
Importance of EU regional support programmes for firm performance*
复制标题
欧盟区域支持计划对公司业绩的重要性*
作者：
K. Beņkovskis;Oļegs Tkačevs;Naomitsu Yashiro
本文考察了欧盟地区支持对企业生产率、员工数量和其他绩效指标的影响。我们使用了丰富的公司级别的拉脱维亚数据集--这个国家的投资活动在很大程度上受到欧盟资金可用性的影响。在控制了生产率更高、规模更大的公司更有可能收购欧盟发现的事实后，我们发现，参与由欧洲区域发展基金(ERDF)共同资助的项目立即增加了公司的就业、营业额和每位员工的资本存量，同时在项目启动仅两年后就提高了它们的生产率。最初生产率较低、规模较大、资本密集度较低、财务杠杆较高的ERDF受益者享有更大的生产率收益。
This paper investigates the effects of EU regional support on firm productivity, the number of employees and other performance indicators. We use a rich firm-level dataset for Latvia – the country, where investment activities are largely affected by the availability of EU funding. After controlling for the fact that more productive and larger firms are more likely to acquire EU finds, we find that participation in projects co-financed by the European Regional Development Fund (ERDF) increases firms’ employment, turnover and capital stock per employee immediately, while it raises their productivity only two years after the launch of the projects. ERDF beneficiaries that are initially less productive, larger, less capital intensive and more financially leveraged enjoy larger productivity gains.