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Venture capital investment, regional innovation and new business creation: a research note

Author

Listed:
  • Douglas Dyer
  • Iftekhar Hasan
  • Haizhi Wang
  • Desheng Yin

Abstract

Entrepreneurship involves mobilising resources in the founding of new businesses to pursue entrepreneurial opportunities. Resource acquisition, especially of financial resource, is crucial for bringing innovative ideas into reality. Though the role of venture capital, as a specialised and important intermediary, in financing innovative entrepreneurial companies is widely recognised, relatively little evidence shows the real effects of venture capital investment. This paper empirically examines the real effects of venture capital investment on regional innovation and new firm creation in the USA. Overall, the results confirm a significant and positive role of venture capital investment in promoting innovation and fostering entrepreneurship.

Suggested Citation

  • Douglas Dyer & Iftekhar Hasan & Haizhi Wang & Desheng Yin, 2016. "Venture capital investment, regional innovation and new business creation: a research note," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 7(2), pages 111-124.
    • Handle: RePEc:ids:injbaf:v:7:y:2016:i:2:p:111-124
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