Table 3.
Propensity score matching results for the impact of R&D supports on firm-level R&D
| Treatment | Treated | Matched untreated | Difference (α) |
|---|---|---|---|
| Foreign-owned firms | |||
| R&D tax credit | 0.803 | 0.126 | 0.677*** |
| R&D grant | 1.818 | 0.813 | 1.005* |
| Domestic firms | |||
| R&D tax credit | 0.194 | 0.056 | 0.138*** |
| R&D grant | 0.076 | 0.033 | 0.043*** |
*p < 0.1; **p < 0.05; ***p < 0.01. For ease of interpretation, the results in Table 3 are expressed in millions of Euros. Estimation results based on 1:1 nearest neighbour matching. The α term relates to the average policy-induced R&D from each policy instrument