Do selected firms show higher performance? The case of Portugal's innovation subsidy

摘要: Abstract The paper evaluates the effect of a Portuguese innovation subsidy (SI Innovation), launched in 2007–2013, on firm performance. Using counterfactual analysis methods and sample composed firms with approved applications non-approved ones, study shows that best proposals higher performance pre-intervention period are more likely to receive subsidy. A positive sustainable subsidy, within time-window 5 years, fixed asset investment technological progress found. However, it seems public support has only an size not decision invest. Subsidized also perform less well than matched non-subsidized they effective achieving planned goals concerning labour productivity value creation.