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Moving Towards a More Dynamic Business Sector in Spain

Pandiella, Alberto González - Economics Department, Organisation de Coopération et … - 2014

Policy efforts to revitalise entrepreneurship and investment in Spain are key to generating growth and new jobs. The … government has a substantial reform program to make it easier to do business in Spain, which should in some cases be deepened … be relieved. This would be facilitated by more efficient insolvency procedures and further development of non …

Persistent link: https://www.econbiz.de/10011276814

Fostering a creative economy to drive Korean growth

Jones, Randall Sidney; Kim, Myungkyoo - 2014

A creative economy requires innovation-friendly conditions. Korea’s innovation system should be improved by upgrading universities and expanding their role in business R&D, while increasing international collaboration in R&D from its current low level. The returns from Korea’s large...

Persistent link: https://www.econbiz.de/10010464970

Investor tax breaks and financing for start-ups : evidence from China

Güçeri, İrem; Hou, Xipei; Xing, Jing - 2024

We examine how investor-level tax incentives affect financing for start-ups using the introduction of a generous tax deduction for qualified angel and VC investment in China as a quasi-natural experiment. We find that the tax incentive increases funding for eligible start-ups, with stronger...

Persistent link: https://www.econbiz.de/10014564279

The start-up decision under default risk

Comincioli, Nicola; Panteghini, Paolo; Vergalli, Sergio - 2021

This study introduces a real option model to investigate how fiscal policy affects a representative firm's investment decision and to measure its welfare effects. On the one hand, the effects of financial instability on the optimal investment timing and on the probability of default are studied....

Persistent link: https://www.econbiz.de/10012654165

A welfare analysis on start-up decisions under default risk

Comincioli, Nicola; Panteghini, Paolo; Vergalli, Sergio - 2021

This short article studies the tax effects on a start-up investment decision under uncertainty. Since the representative firm can decide both when to invest and how much to borrow, the distortive effects are twofold. We thus show that the deadweight loss (namely, the ratio between the welfare...

Persistent link: https://www.econbiz.de/10012698792

Stock option taxation and venture capital activity : a cross-country comparison

Henrekson, Magnus; Sanandaji, Tino - 2016

One response to uncertainty and transactions costs in VC-finance is to compensate founders (and other key personnel) with stock options under complex contracts. Entrepreneurs are granted stock options contingent on firm performance, vesting and other criteria. While most countries tax stock...

Persistent link: https://www.econbiz.de/10011420651

Stock option taxation : a missing piece in European innovation policy?

Henrekson, Magnus; Sanandaji, Tino - 2017

Venture capital has become a dominant form of innovation finance, used by many high-tech startups. Europe lags the U.S. in both VC activity and the creation of successful startups, and has recently been surpassed by China. Few European countries have rates of VC activity commensurable to their...

Persistent link: https://www.econbiz.de/10011657477

Institutions and Venture Capital

Lerner, Josh - 2013

We survey the literature on venture capital and institutions and present a case study comparing the development of the venture capital market in the US to Sweden. Our literature survey underscores that the legal environment, financial market development, the tax system, labor market regulations,...

Persistent link: https://www.econbiz.de/10013091872

Badge of honor or scarlet letter? : unpacking investors' judgment of entrepreneurs' past failure

Zunino, Diego; Praag, Mirjam van; Dushnitsky, Gary - 2017

Research shows that most ventures fail, yet it has devoted limited attention to the consequences of entrepreneursâ€™ past failure for investors' decisions. Our motivating insight is that failure can be due to bad luck, lack of skill or both. Therefore, failure conveys ambiguous information...

Persistent link: https://www.econbiz.de/10011720322

Badge of honor or scarlet letter? : unpacking investors' judgment of entrepreneurs' past failure

Zunino, Diego; Praag, Mirjam van; Dushnitsky, Gary - 2017

Research shows that most ventures fail, yet it has devoted limited attention to the consequences of entrepreneurs' past failure for investors' decisions. Our motivating insight is that failure can be due to bad luck, lack of skill or both. Therefore, failure conveys ambiguous information about...

Persistent link: https://www.econbiz.de/10011732046

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