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Government grants and value added creation in Italian firms. An empirical analysis
Journal Title: MANAGEMENT CONTROL 
Author/s: Milena Serra, Laura Mulas, Alessandra Mura 
Year:  2012 Issue: suppl. 2 Language: Italian 
Pages:  22 Pg. 33-54 FullText PDF:  179 KB
DOI:  10.3280/MACO2012-SU2003
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This study investigates how government grants impact on the value added (VA) creation in beneficiary firms. The analysis compares the accounting performance realised during the period 2002-2009 by two groups of Italian manufacturing firms, similar in many respects with the exception that only one control group benefits 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.
Keywords: Government Grant, Value added, Investment policies, Manufacturing firms

Milena Serra, Laura Mulas, Alessandra Mura, Government grants and value added creation in Italian firms. An empirical analysis in "MANAGEMENT CONTROL" suppl. 2/2012, pp. 33-54, DOI:10.3280/MACO2012-SU2003

   

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