Mikhail S. MALINSKIIRussian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russian Federation information@ranepa.ru ORCID id: not available
Subject. The article deals with financial support to the manufacturing industry at the federal and regional levels. Financial support measures are defined as the most-coveted by companies, and the largest demand is for subsidies. Objectives. The purpose is to explore whether the financial support through subsidizing has an impact on the main performance indicators of recipients, such as revenue, net profit, and number of employees, in the year of support and in the following year. Methods. The study employs general scientific research methods. The main data sources were the Unified Register of Small and Medium-Sized Enterprises as subsidy recipients, and the SPARK information resource. Results. I analyzed the performance of companies that received grant support and those that did not. The comparative analysis showed that the dynamics of key performance indicators of the former was higher. At the same time, in the year after receiving support, the difference in the growth rate of key performance indicators increases, which may indicate a delayed effect for the next year in the growth of net profit. Conclusions. The State financial incentives policy for organizations to spend on the purchase of equipment or business development is justified and appropriate due to higher growth rates of key performance indicators of organizations that received the support.
Keywords: support measures, grant, subsidy, industrial policy, financial support
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