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Bidding against the odds? The impact evaluation of grants for young micro and small firms during the recession

Stjepan Srhoj   ORCID icon orcid.org/0000-0002-7105-8088 ; University of Dubrovnik
Bruno Škrinjarić   ORCID icon orcid.org/0000-0002-5969-1948 ; The Institute of Economics, Zagreb
Sonja Radas ; The Institute of Economics, Zagreb

Fulltext: english, pdf (682 KB) pages 5-37 downloads: 847* cite
APA 6th Edition
Srhoj, S., Škrinjarić, B. & Radas, S. (2018). Bidding against the odds? The impact evaluation of grants for young micro and small firms during the recession. Radni materijali EIZ-a, (2), 5-37. Retrieved from https://hrcak.srce.hr/200008
MLA 8th Edition
Srhoj, Stjepan, et al. "Bidding against the odds? The impact evaluation of grants for young micro and small firms during the recession." Radni materijali EIZ-a, vol. , no. 2, 2018, pp. 5-37. https://hrcak.srce.hr/200008. Accessed 6 Dec. 2021.
Chicago 17th Edition
Srhoj, Stjepan, Bruno Škrinjarić and Sonja Radas. "Bidding against the odds? The impact evaluation of grants for young micro and small firms during the recession." Radni materijali EIZ-a , no. 2 (2018): 5-37. https://hrcak.srce.hr/200008
Harvard
Srhoj, S., Škrinjarić, B., and Radas, S. (2018). 'Bidding against the odds? The impact evaluation of grants for young micro and small firms during the recession', Radni materijali EIZ-a, (2), pp. 5-37. Available at: https://hrcak.srce.hr/200008 (Accessed 06 December 2021)
Vancouver
Srhoj S, Škrinjarić B, Radas S. Bidding against the odds? The impact evaluation of grants for young micro and small firms during the recession. Radni materijali EIZ-a [Internet]. 2018 [cited 2021 December 06];(2):5-37. Available from: https://hrcak.srce.hr/200008
IEEE
S. Srhoj, B. Škrinjarić and S. Radas, "Bidding against the odds? The impact evaluation of grants for young micro and small firms during the recession", Radni materijali EIZ-a, vol., no. 2, pp. 5-37, 2018. [Online]. Available: https://hrcak.srce.hr/200008. [Accessed: 06 December 2021]

Abstracts
Impact evaluations of entrepreneurship policies targeting young firms have been somewhat neglected thus far in the literature. This paper seeks to contribute to this topic in the context of a long recession period, such as the one experienced in Croatia from 2009 to 2014. These policies awarded small grant amounts for activities such as business plan development, consultancy, marketing and office renovation. Awarding small grant amounts to many firms might be tempting for politicians, but is this political populism or smart policy? This paper estimates the impact of matching grants for business development on three types of outcomes: bank loans, firm survival and firm performance. The full firm-level census dataset was supplemented with entrepreneur-level court register and firm-level data on grant recipients. Policy evaluation was performed using matching techniques with a combination of nearest neighbor and exact matching, and robustness of results was tested using a placebo test and Rosenbaum bounds. The results show that grants had a positive impact on firm survival after the recession, and on obtaining long-term bank loans during the recession. However, no empirical support was found for the grants’ impact on growth in turnover, employment and labor productivity.

Keywords
grants; recession; young firms; survival; firm performance; bank loans

Hrčak ID: 200008

URI
https://hrcak.srce.hr/200008

[croatian]

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