Does venture capital really foster innovation?
AbstractUsing panel data of 17 European Union countries, we find robust empirical support for a positive impact of venture capital on innovation. After controlling for the potential endogenous relationship between venture capital and innovation, the results indicate that venture capital fosters innovation but mainly on a later stage.
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Bibliographic InfoPaper provided by NIPE - Universidade do Minho in its series NIPE Working Papers with number 03/2013.
Date of creation: 2013
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Other versions of this item:
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-23 (All new papers)
- NEP-CSE-2013-03-23 (Economics of Strategic Management)
- NEP-ENT-2013-03-23 (Entrepreneurship)
- NEP-EUR-2013-03-23 (Microeconomic European Issues)
- NEP-INO-2013-03-23 (Innovation)
- NEP-KNM-2013-03-23 (Knowledge Management & Knowledge Economy)
- NEP-SBM-2013-03-23 (Small Business Management)
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