Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/130756
Authors: 
Heim, Sven
Hüschelrath, Kai
Schmidt-Dengler, Philipp
Strazzeri, Maurizio
Year of Publication: 
2016
Series/Report no.: 
ZEW Discussion Papers 16-035
Abstract: 
We estimate the causal impact of restructuring aid granted by the European Commission between 2003 and 2012 on the survival and financial viability of aided firms. Using a comprehensive dataset we find that restructuring aid increases a firm's average survival time by 8 to 15 years and decreases the hazard rate by 58 to 68 percent, depending on the definition of firm survival. Further analysis finds strong support that, in the longer run, aid receiving firms have a significantly higher probability to improve their financial viability than the counterfactual group.
Subjects: 
government policy
state aid
ex-post evaluation
survival
European Union
JEL: 
C41
D62
D73
G33
G38
H23
L52
L98
O52
Document Type: 
Working Paper

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