Efectos de la inversión productiva subvencionada en la eficiencia, rendimiento y crecimiento de las empresasun análisis temporal

Abstract

The motivation that has led this research is none other than making a contribution to the literature and empirical evidence, mainly on the efficient use of public resources. The REINDUS program was chosen, because until the start date of this work, there was no impact evaluation of this program. AEVAL, in an extensive study of the effectiveness of the policy between 2005 and 2010, did not make progress in carrying out an impact evaluation of the program, its recommendations on the evaluation of the net effects of the program left a contribution window on which it was elaborated this Thesis. To do this, and starting from the theoretical currents to explain the dualities of intervention and free market, as well as the theories that have tried to describe the growth of companies and those others that seek to explain the optimal financial structures for them and how they contribute to the growth, an impact evaluation of an industrial public policy was proposed by means of a non-parametric matching for the calls from 2009 to 2014, where 1,141 companies with the necessary information for a cross-section analysis were located. All this with the aim of analyzing the impact of the program on the growth of companies from different perspectives: income, number of employees, fixed assets and total assets, performance of profitability (ROA) and efficiency. This led to a detailed review of the different empirical contributions of other authors who had worked on the impact evaluation of other types of programs on the variables to be analyzed in other economies in order to contrast the results obtained and understand their impact on the growth of the Business...