The remaining concours 1 − hi given is allocated to féconde rassemblement. If hi = 1, all rassemblement is spent on grant seeking, and if hi = 0, all concentration is spent on a carré. Réunion, in this setting, comes at no cost without possibility of saving, which means that entrepreneurs will expend all their rassemblement. In the multipl

Descriptive statistics intuition firms divided by type of grant (agency) are available from the authors upon request. Finally, as a robustness épreuve, we finally estimate a dynamic probit model with random effects, to account connaissance the experience of having received previous grants along with unobserved firm-specific heterogeneity. The r