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Abstract ▼ AI-Helper

This study is to minimize the selection bias including self-selection and staff-selection in evaluating government loan programs by suggesting a sequential selection model following the assumption that every non-experimental evaluation method is under the threat of a selection bias. Government loan ...

This study is to minimize the selection bias including self-selection and staff-selection in evaluating government loan programs by suggesting a sequential selection model following the assumption that every non-experimental evaluation method is under the threat of a selection bias. Government loan programs for small business have a typical characteristic that the program is operated with separate two sequential selections by small business as a participant and Small Business Corporation as a program implementer. According to empirical findings, government loan program shows positive effects mainly on firm profitability and return on sales (ROS). Regarding the sequential selection model, while some differences are noticed, most regression results show an insignificant coefficient for sequential selection variables except for the total sales and operating profits of a firm. It is concluded that a selection mechanism has little impact on program implementation, but considering other control variables in the model, sequential selection mechanism is to be incorporated with these observable control variables.

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