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Smart finance for smart places to foster new venture creation

Author

Listed:
  • Erik E. Lehmann

    () (Augsburg University)

  • Nikolaus Seitz

    () (Augsburg University)

  • Katharine Wirsching

    () (Augsburg University)

Abstract

Abstract This study examines the role of smart finance within smart regions to generate smart growth. The smart growth idea has been established by the development of the 20–20 agenda of the European Commission as a regional and urban policy-prioritization framework. We follow this framework of smart growth and rely on the efficacy of the role played by entrepreneurship in driving innovation as being central to the issue. In particular, we argue that new venture creation is shaped by the interplay or ‘match’ between the smartness of a region and the provision of smart finance. Based on metropolitan areas in Germany, our empirical analysis strongly supports the complementary effect of measures of smart finance and the smartness of places in stimulating new venture creation.

Suggested Citation

  • Erik E. Lehmann & Nikolaus Seitz & Katharine Wirsching, 2017. "Smart finance for smart places to foster new venture creation," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 44(1), pages 51-75, March.
  • Handle: RePEc:spr:epolin:v:44:y:2017:i:1:d:10.1007_s40812-016-0052-7
    DOI: 10.1007/s40812-016-0052-7
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    Keywords

    Smart finance; New venture creation; Smart places;

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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