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The relationship between a venture capitalist and an entrepreneur is modeled to investigate the impact of public … subsidies on venture capital investments in start-up enterprises. In this model, the venture capitalist only finances start … value. It is shown that a venture capitalist who already has sufficient expertise reduces his management support in the …
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generosity of welfare states. This paper takes a different perspective and analyzes whether differences in venture capital … in developing thriving venture capital markets that are often deemed crucial for the creation of new firms and for …
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We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth. The model for firm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the...
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. However, innovations seem to be more productive in small firms. Scale economies at the sectoral level are indicated by …
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