Dynamic efficiency and path dependencies in venture capital markets
This book offers a new explanation why venture capital in investments differ substantially between countries. Recent literature has attributed these differences to differences in the financial architecture and tax regulations. By contrast, this book shows by using simulations of a general equilibrium model that interactions between venture capitalists reputation building and experience accumulation lead to different levels of venture capital investments. The interactions taking place in venture capital markets can result ininefficiencies in experience accumulation. The study argues that government subsidies in such a situation may increase venture capitalistsexperience accumulation. However, using an agency model, this study shows that subsidies can have negative effects since they reduce venture capitalistsincentives to support the management teams.
- Location
-
Deutsche Nationalbibliothek Frankfurt am Main
- ISBN
-
9783540407102
3540407103
- Dimensions
-
24 cm
- Extent
-
XVIII, 190 S.
- Language
-
Englisch
- Notes
-
graph. Darst.
Literaturverz. 177 - 188
- Bibliographic citation
-
Kieler Studien ; 327
- Classification
-
Wirtschaft
- Keyword
-
Innovationsförderung
Risikokapital
Beteiligungsfinanzierung
Mikrostrukturtheorie
Deutschland
USA
- Event
-
Veröffentlichung
- (where)
-
Berlin, Heidelberg, New York, Hong Kong, London, Milan, Paris, Singapore, Tokyo
- (who)
-
Springer
- (when)
-
2003
- Creator
- Table of contents
- Rights
-
Bei diesem Objekt liegt nur das Inhaltsverzeichnis digital vor. Der Zugriff darauf ist unbeschränkt möglich.
- Last update
-
11.06.2025, 1:38 PM CEST
Data provider
Deutsche Nationalbibliothek. If you have any questions about the object, please contact the data provider.
Associated
- Schertler, Andrea
- Springer
Time of origin
- 2003
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