Public-Private Partnerships (PPPs) in the Defense-Critical Semiconductor Industry: A History and Firm Level Analysis

Author

Holden J. Holt

Date of Award

3-2024

Document Type

Thesis

Degree Name

Master of Science

Department

Department of Systems Engineering and Management

First Advisor

Brandon M. Lucas, PhD

Abstract

This thesis provides 3 contributions to the literature of semiconductor industry industrial policy. The thesis (1) provides a historical overview of industrial policy within the U.S. semiconductor industry, (2) measures semiconductor public-private partnership (PPP) participation and (3) measures firm functions’ impact on firm level performance. PPP participation data was gathered from a sample of 10 semiconductor PPPs. Firm level performance data was collected from 66 public, U.S., SIC 3674 “Semiconductor and Related Devices” firms from 2014 to 2022, and a random effects, fixed effects, and pooled ordinary least squares regression was conducted on an unbalanced panel data set of 524 firm-year observations. We find that (1) PPP participation does not significantly impact 3 firm level performance metrics: ROA, EBITDA margin, or revenue growth; (2) firm function, by design-only and manufacturing firms, does not significantly impact the same 3 firm level performance metrics. Lastly, no statistically significant results support that firm level performance differs by the (3) function of firms that participated in semiconductor PPPs.

AFIT Designator

AFIT-ENV-MS-24-M-130

Comments

A 12-month embargo was observed for posting this work on AFIT Scholar.

Distribution Statement A, Approved for Public Release. PA case number on file.

Recommended Citation

Holt, Holden J., "Public-Private Partnerships (PPPs) in the Defense-Critical Semiconductor Industry: A History and Firm Level Analysis" (2024). Theses and Dissertations. 7751.
https://scholar.afit.edu/etd/7751