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The capital gap for small technology companies: public venture capital to the rescue?


  • Itxaso del-Palacio


  • Xiaotian Zhang
  • Francesc Sole


No abstract is available for this item.

Suggested Citation

  • Itxaso del-Palacio & Xiaotian Zhang & Francesc Sole, 2012. "The capital gap for small technology companies: public venture capital to the rescue?," Small Business Economics, Springer, vol. 38(3), pages 283-301, April.
  • Handle: RePEc:kap:sbusec:v:38:y:2012:i:3:p:283-301
    DOI: 10.1007/s11187-010-9275-6

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    References listed on IDEAS

    1. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    2. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    3. Da Rin, Marco & Nicodano, Giovanna & Sembenelli, Alessandro, 2006. "Public policy and the creation of active venture capital markets," Journal of Public Economics, Elsevier, vol. 90(8-9), pages 1699-1723, September.
    4. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    5. Lall, Sanjaya, 1992. "Technological capabilities and industrialization," World Development, Elsevier, vol. 20(2), pages 165-186, February.
    6. Laura Bottazzi & Marco Da Rin, 2002. "Venture capital in Europe and the financing of innovative companies," Economic Policy, CEPR;CES;MSH, vol. 17(34), pages 229-270, April.
    7. Kanniainen, Vesa & Keuschnigg, Christian, 2003. "The optimal portfolio of start-up firms in venture capital finance," Journal of Corporate Finance, Elsevier, vol. 9(5), pages 521-534, November.
    8. Myers, Stewart C. & Majluf, Nicolás S., 1945-, 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Working papers 1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    9. Murray, Gordon C. & Lott, Jonathan, 1995. "Have UK venture capitalists a bias against investment in new technology-based firms?," Research Policy, Elsevier, vol. 24(2), pages 283-299, March.
    10. Lerner, Josh, 1999. "The Government as Venture Capitalist: The Long-Run Impact of the SBIR Program," The Journal of Business, University of Chicago Press, vol. 72(3), pages 285-318, July.
    11. S. Manigart & V. Collewaert & M. Wright & S. Pruthi & A. Lockett & H. Bruining & U. Hommel & H. Landstrom, 2006. "Human capital and the internationalization of venture capital firms," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 06/363, Ghent University, Faculty of Economics and Business Administration.
    12. Leleux, Benoit & Surlemont, Bernard, 2003. "Public versus private venture capital: seeding or crowding out? A pan-European analysis," Journal of Business Venturing, Elsevier, vol. 18(1), pages 81-104, January.
    13. Gary S. Becker, 1983. "A Theory of Competition Among Pressure Groups for Political Influence," The Quarterly Journal of Economics, Oxford University Press, vol. 98(3), pages 371-400.
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    Cited by:

    1. repec:kap:sbusec:v:50:y:2018:i:2:d:10.1007_s11187-016-9831-9 is not listed on IDEAS
    2. repec:kap:jtecht:v:42:y:2017:i:5:d:10.1007_s10961-016-9476-5 is not listed on IDEAS
    3. Munari, Federico & Toschi, Laura, 2015. "Assessing the impact of public venture capital programmes in the United Kingdom: Do regional characteristics matter?," Journal of Business Venturing, Elsevier, vol. 30(2), pages 205-226.
    4. Guerini, Massimiliano & Quas, Anita, 2016. "Governmental venture capital in Europe: Screening and certification," Journal of Business Venturing, Elsevier, vol. 31(2), pages 175-195.
    5. Felipe Rojas & Elena Huergo, 2016. "Characteristics of entrepreneurs and public support for NTBFs," Small Business Economics, Springer, vol. 47(2), pages 363-382, August.

    More about this item


    Venture capital; Early stage; Start-up; Public policy; Entrepreneurship; G24; L24;

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures


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