Retaining Winners: Can Policy Boost High-Growth Entrepreneurship?
Imperial College Business School Innovation and Entrepreneurship Working Papers
44 Pages Posted: 23 May 2015
Date Written: May 22, 2015
We analysed the growth impact delivered by a high-growth entrepreneurship policy initiative over a six-year period. Using an eight-year panel that started two years before the initiative was launched and propensity score matching to control selection bias, we found that the initiative had more than doubled the growth rates of treated firms. The initiative had delivered a strong impact also on value-for-money basis. In addition to producing the first robust evidence on the growth impact delivered by a high-growth entrepreneurship initiative, we contribute to public sponsorship theory with the notion of capacity-boosting activities to complement previously discussed buffering and bridging activities.
Keywords: high-growth entrepreneurship; high-growth policy impact; entrepreneurship policy; public sponsorship; impact evaluation
JEL Classification: M13
Suggested Citation: Suggested Citation