Henrekson, Magnus; Sanandaji, Tino - 2017
Venture capital has become a dominant form of innovation finance, used by many high-tech startups. Europe lags the U ….S. in both VC activity and the creation of successful startups, and has recently been surpassed by China. Few European … financial and human capital to startups. As a response to high uncertainty and transaction costs, VC financiers developed a …