Focused on the efficiency of the Russian innovation-fostering policy, the research is based on an empirical analysis of how policy instruments impact firms' behavior. The data is obtained from two surveys of more than 600 Russian industrial companies in 2011-2012. The analysis shows that tax...

The dilemmas that may encounter entrepreneurship result of an expected conflict between VCs and entrepreneur, disagreement can be beneficial for the venture performance. While the conflicts classified as personal disagreement, which negatively associated with entrepreneur’s performance. In...

The objective of this paper is to examine and analyze the differences between Venture Capital development in Macedonia and several Central and Eastern Europe countries, to determine the reasons, and hence extract certain conclusions that will serve as a guideline in Macedonia’s venture capital...

In this paper we try to present the role of one of the Venture Capital financing solutions - the Spin – off organizations, which are a very interesting way of acquiring the financial means for the new established innovative companies – clients of the Science and Technology Parks.

The current paper analyzes similarities and differences between conventional and Islamic private equity (PE). Despite the financial subprime crisis and the lack of liquidities in financial markets, PE still play an important role in financing growing unlisted firms all over the world. However,...

This paper examines the direction of causality between Venture Capital (VC) and innovation (proxied by patents) in Europe. We test whether causality runs from patents to VC by estimating a linear dynamic panel model and causality from VC to patents by estimating a panel count model. Evidence...

The venture capital (VC) industry supports innovation in an economy, and has seen much success over the last few years. However, with the inherent risk in any start-up business, the venture capitalist is bound to see some failures. This paper explores the effects of corporate and personal...

Employing a large dataset regarding venture capital investments in US Internet firms, we analyze the effect of the current financial crisis on the venture capital market. Using regression analysis, we find that the financial crisis led to a 20% decrease in the average amount of funds raised per...

Cash dilution, the effect of performance reduction through cash, exists in almost every illiquid fund. This article provides a brief overview of the problems of cash dilution in illiquid private equity fund of funds, a formula for the calculation of the cost of cash dilution, two possible...