Takalo, Tuomas; Tanayama, Tanja; Toivanen, Otto - EconWPA - 2005
of R&D subsidies. We find that larger firms have higher marginal profitability of R&D. Rates of return on R&D are high … linear in R&D. The median increase from subsidies in the agency’s utility not appropriated by the applicant is 16 000 …