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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-up enterprises if he has sufficient expertise to make...
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problems and affect finance composition. However, experience of business failure might result in additional effects. This … analysis therefore investigates the effects of experience on several aspects of start-up financing. It is based on data from … the KfW Start-up Monitor, a representative annual survey of the German population. The results show that experience …
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