Financial constraints for young and small firms can prevent them from supporting innovation and employment creation. We analyze two of the various institutional mechanisms which have been proposed to circumvent it: the development of venture capital market and the stock market access. We will...

This study contributes to the debate on VC-related policies that aim to support the growth of young high-tech firms in the EU. The study provides a systematic review of the results of 22 firm-level studies that estimate causal effects of VC using counterfactual impact evaluation methods and data...

Using a comprehensive database of European firms, we study how private equity affects the rate of firm entry. We find that private equity investment benefits new business incorporation, especially in industries with naturally higher entry rates and R&D intensity. A two standard deviation...

Using a new European Union-sponsored firm-level longitudinal dataset, we assess the impact of government-managed (GVC) and independent venture capital (IVC) funds on the sales and employee growth of European high-tech entrepreneurial firms. Our results show that the main statistically robust and...

We investigate the effect of public (PUVC) and private (PRVC) venture capital funds on the sales growth of 6,513 European New Technology-Based Firms (NTBFs) during the period from 1992 to 2009. Our results show that PUVC-backed NTBFs underperform with respect to PRVC-backed ones and do not grow...

European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor insurance mechanisms....

Over the last two decades, the phenomenon of technology entrepreneurship has attracted the interest of researchers and policy makers due to its significant impact upon economic progress. Several authors define technology entrepreneurship as the interface of two well-established, but related...

This report presents the main findings of a new survey of 170 European business incubators. It finds that a large share of surveyed incubators began to operate in the last 5 years. The survey suggests that upwards of 5,500 people work in Europe's business incubators, offering services to around...

During the latter part of the 1990s the introduction of the euro, the dramatic increase in the supply of venture capital in most EU countries, and the creation of several new equity markets targeted at innovative firms have dramatically transformed the financing prospects of European...