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Risikokapital in Österreich. Angebots- und nachfrageseitige Erklärungen der geringen Ausprägung und Empfehlungen zu ihrer Überwindung

Author

Listed:
  • Thomas Jud

    (Improveo Beratungs-GmbH)

  • Jürgen Marchart

    (Austrian Private Equity and Venture Capital Organisation)

  • Klaus S. Friesenbichler
  • Michael Peneder
  • Stefan Haslinger

    (KPMG Alpen-Treuhand AG Wirtschaftsprüfungs- und Steuerberatungsgesellschaft)

Abstract

Risikokapital spielt im nationalen Innovationssystem eine wichtige Rolle und ist insbesondere für die Finanzierung innovativer, wachstumsorientierter Klein- und Mittelbetriebe wichtig. Der Risikokapitalmarkt schrumpft im Gefolge der Finanzmarkt- und Wirtschaftskrise sowohl auf europäischer Ebene als auch in Österreich deutlich. In Österreich zeigen sich bislang keine Erholungstendenzen. Dadurch haben vor allem junge, innovative Klein- und Mittelbetriebe in der Frühphasenfinanzierung Schwierigkeiten. Dieses Problem ist in Österreich umso schwerwiegender, als der Risikokapitalmarkt bereits vor der Krise unterentwickelt war. Vor diesem Hintergrund werden die Funktionsweise und die Dynamik von Risikokapital erläutert und gesellschaftsrechtliche sowie regulatorische Handlungsempfehlungen abgeleitet.

Suggested Citation

  • Thomas Jud & Jürgen Marchart & Klaus S. Friesenbichler & Michael Peneder & Stefan Haslinger, 2013. "Risikokapital in Österreich. Angebots- und nachfrageseitige Erklärungen der geringen Ausprägung und Empfehlungen zu ihrer Überwindung," WIFO Studies, WIFO, number 46677, April.
    • Handle: RePEc:wfo:wstudy:46677
    Note: With English abstract.
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    References listed on IDEAS

    as
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    Cited by:

    1. Wolfgang Pointner & Burkhard Raunig, 2018. "A primer on peer-to-peer lending: immediate financial intermediation in practice," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3/18, pages 36-51.
    2. Michael Peneder, 2013. "Von den "trockenen Tälern" der Risiko- und Wachstumsfinanzierung," WIFO Monatsberichte (monthly reports), WIFO, vol. 86(8), pages 637-648, August.
    3. Schuch Klaus & Gampfer Robert, 2016. "RIO Country Report 2015: Austria," JRC Research Reports JRC101166, Joint Research Centre.
    4. Peter Mayerhofer, 2016. "Unternehmensinvestitionen in den österreichischen Bundesländern. Entwicklung – Struktur – Funktion regionaler Förderung," WIFO Studies, WIFO, number 58936, February.
    5. Thomas Jud, 2013. "Funktionsmodell und Rahmenbedingungen der Risikokapitalfinanzierung," WIFO Monatsberichte (monthly reports), WIFO, vol. 86(8), pages 663-672, August.
    6. Werner Hölzl & Michael Böheim & Klaus S. Friesenbichler & Thomas Jud, 2017. "Börsen als Instrument der kapitalmarktbasierten Finanzierung von Klein- und Mittelbetrieben in Österreich. Internationale Beispiele und Ansatzpunkte," WIFO Monatsberichte (monthly reports), WIFO, vol. 90(8), pages 629-638, August.
    7. Thomas Url & Klaus S. Friesenbichler & Werner Hölzl, 2019. "Quellen der Unternehmensfinanzierung in Österreich," WIFO Studies, WIFO, number 61642, February.

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