Retaining Winners: Can Policy Boost High-Growth Entrepreneurship?

Imperial College Business School Innovation and Entrepreneurship Working Papers

44 Pages Posted: 23 May 2015

See all articles by Erkko Autio

Erkko Autio

Imperial College Business School; Tilburg University School of Economics and Management

Heikki Rannikko

Aalto University

Date Written: May 22, 2015

Abstract

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

Autio, Erkko and Rannikko, Heikki, Retaining Winners: Can Policy Boost High-Growth Entrepreneurship? (May 22, 2015). Imperial College Business School Innovation and Entrepreneurship Working Papers. Available at SSRN: https://ssrn.com/abstract=2609502

Erkko Autio (Contact Author)

Imperial College Business School ( email )

South Kensington Campus
Exhibition Road
London SW7 2AZ, SW7 2AZ
United Kingdom
+447786226452 (Phone)

HOME PAGE: http://www.imperial.ac.uk/people/erkko.autio

Tilburg University School of Economics and Management ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

Heikki Rannikko

Aalto University ( email )

Finland

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