Arbeitspapier
Public Policy for Venture Capital
This paper proposes a simple partial equilibrium model to investigate the effects of government policy on venture capital backed investments. Giving up an alternative career, entrepreneurs focus their effort on a single, high risk venture each. Venture capitalists acquire an equity stake and offer a base salary as well. In addition to providing incentive compatible equity finance, they support the venture with managerial advice to raise survival chances. We analyze several policy measures addressed at venture capital activity: government spending on entrepreneurial training, subsidies to equipment investment, and output subsidies at the production stage. While these measures stimulate entrepreneurshiip, only cost-effective government services can improve welfare.
- Language
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Englisch
- Bibliographic citation
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Series: EPRU Working Paper Series ; No. 2001-06
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Keuschnigg, Christian
Nielsen, Søren Bo
- Event
-
Veröffentlichung
- (who)
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University of Copenhagen, Economic Policy Research Unit (EPRU)
- (where)
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Copenhagen
- (when)
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2001
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Keuschnigg, Christian
- Nielsen, Søren Bo
- University of Copenhagen, Economic Policy Research Unit (EPRU)
Time of origin
- 2001
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