Venture Capital Backed Growth
The paper proposes a simple equilibrium model of venture capital, start-up entrepreneurship and innovation. Venture capitalists not only finance but also advise start-up entrepreneurs and thereby add value to new firms. The paper shows how a productive and active venture capital industry boosts innovation based growth. It also demonstrates the potential of tax policy to promote innovation and growth by strengthening incentives for more intensive venture capital support.
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Volume (Year): 9 (2004)
Issue (Month): 2 (06)
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References listed on IDEAS
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- Azariadis, Costas & Chakraborty, Shankha, 1999. "Agency Costs in Dynamic Economic Models," Economic Journal, Royal Economic Society, vol. 109(455), pages 222-41, April.
- Schmidt, Klaus M., 2003.
"Convertible Securities and Venture Capital Finance,"
Munich Reprints in Economics
19769, University of Munich, Department of Economics.
- Klaus M. Schmidt, 2003. "Convertible Securities and Venture Capital Finance," Journal of Finance, American Finance Association, vol. 58(3), pages 1139-1166, 06.
- Klaus Schmidt, 1999. "Convertible Securities and Venture Capital Finance," CESifo Working Paper Series 217, CESifo Group Munich.
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- Christian Keuschnigg, 2002.
"Start-Up Investment With Scarce Venture Capital Support,"
University of St. Gallen Department of Economics working paper series 2002
2002-03, Department of Economics, University of St. Gallen.
- Kanniainen, Vesa & Keuschnigg, Christian, 2004. "Start-up investment with scarce venture capital support," Journal of Banking & Finance, Elsevier, vol. 28(8), pages 1935-1959, August.
- Vesa Kanniainen & Christian Keuschnigg, 2001. "Start-Up Investment with Scarce Venture Capital Support," CESifo Working Paper Series 439, CESifo Group Munich.
- Kanniainen, V. & Keuschnigg, C., 2001. "Start-up Investment With Scarce Venture Capital Support," University of Helsinki, Department of Economics 503, Department of Economics.
- Wasmer, Etienne & Weil, Philippe, 2002.
"The Macroeconomics of Labour and Credit Market Imperfections,"
CEPR Discussion Papers
3334, C.E.P.R. Discussion Papers.
- Etienne Wasmer & Philippe Weil, 2004. "The Macroeconomics of Labor and Credit Market Imperfections," American Economic Review, American Economic Association, vol. 94(4), pages 944-963, September.
- Wasmer, Etienne & Weil, Philippe, 2000. "The Macroeconomics of Labor and Credit Market Imperfections," IZA Discussion Papers 179, Institute for the Study of Labor (IZA).
- Hellmann, Thomas & Puri, Manju, 2000. "The Interaction between Product Market and Financing Strategy: The Role of Venture Capital," Review of Financial Studies, Society for Financial Studies, vol. 13(4), pages 959-84.
- Samuel Kortum & Josh Lerner, 2000. "Assessing the Contribution of Venture Capital to Innovation," RAND Journal of Economics, The RAND Corporation, vol. 31(4), pages 674-692, Winter.
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