全球智库信息集成服务系统(G2TT): DP13098 Can Government Intervention Make Firms More Investment-Ready? A Randomized Experiment in the Western Balkans

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP13098
	DP13098 Can Government Intervention Make Firms More Investment-Ready? A Randomized Experiment in the Western Balkans
	Ana Cusolito; Ernest Dautović; David McKenzie
发表日期	2018-08-02
出版年	2018
语种	英语
摘要	Many innovative start-ups and SMEs have good ideas, but do not have these ideas fine-tuned to the stage where they can attract outside funding. Investment readiness programs attempt to help firms to become ready to attract and accept outside equity funding through a combination of training, mentoring, master classes, and networking. We conduct a five-country randomized experiment in the Western Balkans that works with 346 firms and delivers an investment readiness program to half of these firms, with the control group receiving an inexpensive online program instead. A pitch event was then held for these firms to pitch their ideas to independent judges. The investment readiness program resulted in a 0.3 standard deviation increase in the investment readiness score, with this increase occurring throughout the distribution. Two follow-up surveys show that these judges’ scores predict investment readiness and investment outcomes over the subsequent two years. Treated firms attain significantly more media attention, and are 5 percentage points (p.p.) more likely to have made a deal with an outside investor, although this increase is not statistically significant (95 confidence interval of -4.7 p.p., +14.7p.p.).
主题	Development Economics
关键词	Investment readiness Start-ups Innovation Equity investment entrepreneurship Randomized controlled trial
URL	https://cepr.org/publications/dp13098
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/541902
推荐引用方式 GB/T 7714	Ana Cusolito,Ernest Dautović,David McKenzie. DP13098 Can Government Intervention Make Firms More Investment-Ready? A Randomized Experiment in the Western Balkans. 2018.