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All Journal Journal of Regional Economics and Development
Papadogonas, Theodore
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Economics, Econometrics & Finance

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Financial Intensity or Project Duration: What Drives Patents and Spin-Offs in Public R&D Projects? Makryvelios, Evangelos; Papadogonas, Theodore
Journal of Regional Economics and Development Vol. 3 No. 2 (2026): February
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jred.v3i2.1099

Abstract

The aim of the research is to examine the aspects that govern the innovation outcomes of publicly funded Research and Development (R&D) projects at the project level, focusing on the intensity of funding, implementation period, and the resulting induced private investment. The empirical model relies on a sample of 1,435 projects in the Attica Region and approximates a log-linear econometric model with the OLS technique and heteroscedasticity-robust standard errors. The innovation performance is measured using the logarithm of the total number of patents and spin-offs generated by an individual project. The findings indicate that final project budget and induced private investment have a positive and statistically significant impact on innovation outcomes, with the largest impact being that of private leverage. Conversely, project implementation does not have an ordered contributor to patent and spin-off production.
Co-Authors Makryvelios, Evangelos