This paper reviews the evidence on financing technology-based small firms (TBSFs) in Europe. The main findings in the literature are the 1) European TBSF's finance new investments by relying primarily on internal funds, due to capital market failures induced by asymmetric information; 2)...

In this paper we analyze how different types of venture capital investments - private, public and indirect public - affect performance of "cleantech" start-ups in Europe. We hand collected a unique dataset on the institutional setting (public/indirect/private) of almost 15000 investors in...

The aim of this study is to explore the previously unresearched outcomes of firms funded through equity crowdfunding, a novel type of entrepreneurial finance. We study the outcomes of a sample of 337 firms funded on equity crowdfunding platforms in Europe between 2009 and 2014. By incorporating...

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...

This paper examines the determinants of private equity activity across Europe. We analyze a total of 43 explanatory variables, categorized into six groups: Economy; Finance and capital markets; Quality of institutions; Life quality; Economic freedom and Globalization. We assess their impact on...

In Da Rin, Nicodano, and Sembenelli (2006) we evaluate the effectiveness of different public policies for venture capital using an econometric approach that allows to overcome several well-known flaws of purely cross-country studies. Our results cast serious doubts on the widespread illusion...

Business angels are one of the main sources of financing for innovative start-up companies. In this regard, it has been discussed in the existing literature that policy-makers and stakeholders are in great need for a tool to measure the level and scale of the development of the business angel...

This paper examines two aspects related to private equity investments in Europe. First, we will present the evolution of private equity investments across European countries during the last crisis. Second, the paper will analyse and identify the main determinants of the European private equity...

If the UK cannot secure a ‘Norway' deal and stay within the internal market after Brexit, the UK will lose passporting rights for EU financial services and access to euro clearing and settlement, both of which make London attractive as a financial centre. A substantial part of the UK's...

Credit Rating Agencies (CRAs) have been a market entity relatively neglected by regulators and commenters, despite the increasing importance they have had in the 20th century financial markets development. Different legal system as United States of America and European Union have both recently...