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| Author: | Lerner, J. |
| Title: | The government as venture capitalist: the long-run impact of the SBIP program |
| Journal: | Journal of Business
1999 : JUL, VOL. 72:3, p. 285-318 |
| Index terms: | Small business Venture capital companies Technological innovation Public corporations Public companies Public finance USA |
| Language: | eng |
| Abstract: | This article examines the largest U.S. initiative, the Small Business Innovation Research program. Using a unique database, the author shows that program awardess grew significantly faster than matched firms over a decade and were more likely to attract venture financing. The results suggest that awards played an important role in certifying firm quality but also that distortions of the award process occur. |
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