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This study examines the consequences of loan denials for the investment performance of small and medium-sized German … investment than non-innovative companies. The non-randomness of loan denials is controlled for with a selection equation … mezzanine capital, when facing a loan denial. -- Investment ; loan availability ; innovation ; private equity …
Persistent link: https://www.econbiz.de/10003961525
The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists not only finance but also advise start-up entrepreneurs and thereby add value to new firms. The paper demonstrates how a productive and active VC industry boosts innovation...
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The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists not only finance but also advise start-up entrepreneurs and thereby add value to new firms. The paper demonstrates how a productive and active VC industry boosts innovation...
Persistent link: https://www.econbiz.de/10001653758
Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...
Persistent link: https://www.econbiz.de/10011507850
This paper offers a quantitative description of European private equity markets and compares the recent development in these markets with the development of the US venture capital market. Moreover, the paper addresses the differences between private equity investors acting in a single national...
Persistent link: https://www.econbiz.de/10011476014
This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of...
Persistent link: https://www.econbiz.de/10003806179