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The Problem of Private Under-investment in Innovation: A Policy Mind Map
Peneder, Michael - 2008
This paper reviews the major finance-related causes of private under-investment in innovation and the consequent alternative choices for public policy. The focus is on incentive-based arguments that address the problem of limited appropriability of new knowledge, and on the lacking access to...
Persistent link: https://www.econbiz.de/10011435227
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Financial systems and venture capital in Nordic countries: A comparative study
Hyytinen, Ari; Pajarinen, Mika - 2001
In this paper we present a comparative analysis of Nordic countries’ financial systems and consider in particular the recent growth of Nordic venture capital industries. We document that the Nordic countries’ financial systems display several similarities that have characterized their...
Persistent link: https://www.econbiz.de/10010285043
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Finanzierung von kleinen und mittleren Unternehmen in der Corona-Pandemie
Pahnke, André; Nielen, Sebastian; Dienes, Christian; … - 2023
Unternehmen (KMU). Zu Beginn der Corona-Pandemie ist die Anzahl der KMU mit Finanzierungsproblemen gestiegen, sowohl in … Deutschland als auch in weiteren Ländern des Euroraums. KMU in Deutschland waren jedoch etwas stärker betroffen. Ein wesentlicher … Möglichkeiten der Finanzierung über Eigenmittel. Zusätzlich ist für die betroffenen KMU auch der Zugang zu Fremdkapital schwieriger …
Persistent link: https://www.econbiz.de/10014340153
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Synergizing ventures
Akcigit, Ufuk; Dinlersoz, Emin Murat; Greenwood, Jeremy; … - 2019
Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC backing increases a startup's likelihood of reaching the right tails of the firm size and...
Persistent link: https://www.econbiz.de/10012389572
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Geographic location of a new venture and the likelihood of a venture capital investment
Achleitner, Ann-Kristin; Bender, Marko; Kaserer, Christoph - 2010
Based on 1182 dyads of German new ventures and venture capitalists involved in a financing round between 2002 and 2007, we examine the impact of spatial proximity on the likelihood of an investment. We find that with each triplication of journey time the relative likelihood of an investment...
Persistent link: https://www.econbiz.de/10010305691
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Katsaus yritysten kasvuun ja sitä koskeviin politiikkatoimiin
Ali-Yrkkö, Jyrki; Kotiranta, Annu; Ylhäinen, Ilkka - 2017
This report is a synthesis of the previous literature analyzing the role of different types of companies on economic growth and employment, and an overlook on the impacts of different policy measures on companies. The role of large companies in the economy is still significant, although...
Persistent link: https://www.econbiz.de/10012037699
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Small business finance in Finland: A descriptive study
Hyytinen, Ari; Pajarinen, Mika - 2002
Using new data originating from a recently conducted survey, this paper examines the financing of small and medium-sized enterprises (SMEs) in private equity and debt markets in Finland. We find that the three most important sources of funds are the principal owner’s equity, trade credit...
Persistent link: https://www.econbiz.de/10010285020
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Reducing Asymmetric Information in Venture Capital Backed IPOs
Escobari, Diego; Serrano, Alejandro - 2015
Purpose – The purpose of this paper is to model asymmetric information and study the profitability of venture capital (VC) backed initial public offerings (IPOs). Our mixtures approach endogenously separates IPOs into differentiated groups based on their returns’ determinants. We also...
Persistent link: https://www.econbiz.de/10011390741
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Der Wertpapierprospekt: empirische Befunde zur Qualität der Risikoangaben bei Neuemissionen
Henselmann, Klaus; Klein, Martin; Maier, Christian - 2009
The paper analyzes the risk disclosure quality in the prospectus of IPOs in Germany between 2006 and 2008. Quality of risk information is measured as precision and comprehensibility. The relationship between risk disclosure quality and earnings power is tested.
Persistent link: https://www.econbiz.de/10010300003
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Wieviel Phantasie braucht die Fußballaktie?
Lehmann, Erik; Weigand, Jürgen - 1998
Nach dem Vorbild börsennotierter britischer Vereine wird es auch deutschen Profifußballvereinen in absehbarer Zukunft möglich sein, sich in Aktiengesellschaften umzuwandeln. Der anschließende Börsengang soll dann den nach den jüngsten Entwicklungen im Profifußballbereich gestiegenen...
Persistent link: https://www.econbiz.de/10010319312