The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms. Among other variables, our panel of firm data includes data on venture capital funding and patent applications. With statistical matching procedures we draw an adequate control...

This study examines empirically the syndication of equity by multiple venture capitalists in Germany. Following the literature, there are mainly two competing views as to why venture capitalists syndicate investments. First, syndication can be viewed as a means of risk-sharing. Second, venture...

Using a data set of the firms listed on the Neuer Markt in Germany, this paper demonstrates that venture backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study provide evidence for the hypothesis that small and innovative firms are more...

SMEs play a crucial role for European economies. The numbers show the high importance ofSMEs for national economies. Accordingly, it is no surprise that the regulatory frameworkSMEs are imbedded in is the subject of an important political discussion. In the discussion itis frequently mentioned...

Die Messung und Bewertung von Katastrophenrisiken stellt sich als sehr bedeutsamesGebiet dar, da sie einen großen Teil des gesamten Risikokapitals der Unternehmenbinden. Aus diesem Grund soll der vorliegende Aufsatz zwei konkrete Ansätzezur Modellierung von Katastrophenschäden am Beispiel der...

Business incubation as an instrument of fostering new venture formation is widely discussedin the research field of entrepreneurship. Numerous aspects of Business Incubators (BIs) havealready been investigated in more depth: e.g. the organizational structure, funding, objectives,provided...

Pressemitteilund des Bundesministeriums für Wirtschaft und Technologie zum Thema Gesetzentwurf: "Wagniskapitalbeteiligung (WKBG) undUnternehmensbeteiligungsgesellschaften (UBGG)“. Dabei wird insbesondere auf die Hintergründe des Entwurfes, sowie auf ähnliche Modelle im europäischen Ausland...

Using a comprehensive database of European firms, we study how private equityaffects the rate of firm entry. We find that private equity investment benefits newbusiness incorporation, especially in industries with naturally higher entry rates andR&D intensity. A two standard deviation increase...

We provide the first cross-country evidence of the effect of investment by privateequity firms on innovation, focusing on a sample of European countries and usingKortum and Lerner’s (2000) empirical methodology. Using an 18-country panelcovering the period 1991-2004, we study how private...

The purpose of this literature review is to document academic research concerning factors influencing the performances of venture capital funds, as well as the venture capital fundraising decisions. Industry specialisation, large fund sizes, strong deal flow, syndication of investments, and...