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- affect performance of "cleantech" start-ups in Europe. We hand collected a unique dataset on the institutional setting … significant difference between direct and indirect government support of venture capital for cleantech investments. Second, GVCs … perform well when they specialize in cleantech investments and are well connected within a network of other investors. …
Persistent link: https://www.econbiz.de/10014438817
In this paper we analyze how different types of venture capital investments - private, public and indirect public - affect performance of portfolio companies. We use data on more than 20,000 VC deals in Europe between 2000 and 2018 and we hand collected a unique dataset on the institutional...
Persistent link: https://www.econbiz.de/10013282460
The working paper examines the role and development of the Central and Eastern European venture capital sector in the five years between 2016 and 2020. This period includes both the end of the recovery after the economic crisis in 2008 and the downturn due to the coronavirus crisis in 2019. A...
Persistent link: https://www.econbiz.de/10014454594
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...
Persistent link: https://www.econbiz.de/10013066054
We review statistical methods used to estimate the impact of crowding out of private venture capital by government venture capital. We review three types of failures that have plagued the venture capital literature and resulted in policy implications that are precisely the opposite of what the...
Persistent link: https://www.econbiz.de/10012906813
This paper examines the effects of a shock to angel finance on entrepreneurial activity and employment. Using U.S. Census data, we estimate the state-level fraction of households that lost accreditation status from Dodd–Frank's elimination of housing wealth in determining accreditation. A...
Persistent link: https://www.econbiz.de/10012854488
Numerous innovative Canadian new technology-based firms migrate abroad when local venture capitalists exit. This article aims to determine how common this type of exit is, and to understand the motivations behind and the consequences of these migrations. We use a mixed-methodology approach,...
Persistent link: https://www.econbiz.de/10013053107
This paper reflects on the policy formation process in the burgeoning area of government’s involvement venture capital finance (VC) over the two decades 2000-2020. It looks at both why and how government VC funds (GVC) have evolved. The increasingly common vehicle of ‘hybrid’ co-investment...
Persistent link: https://www.econbiz.de/10013242496
Business development companies (“BDCs”) offer retail investors the allure of becoming venture capitalists, funding emerging enterprises with the help of professional asset managers. BDCs are investment companies that finance businesses traditionally locked out of conventional capital...
Persistent link: https://www.econbiz.de/10013250397
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...
Persistent link: https://www.econbiz.de/10013037790