Venture capital and new business creation

被引：53
|
作者：
Popov, Alexander [1 ]
Roosenboom, Peter [2 ]
机构：
[1] European Cent Bank, Financial Res Div, Frankfurt, Germany
[2] Erasmus Univ, Rotterdam Sch Management, Dept Finance, NL-3000 DR Rotterdam, Netherlands
来源：
JOURNAL OF BANKING & FINANCE | 2013年 / 37卷 / 12期
关键词：
Venture capital; New business creation; Finance abd Growth; FINANCIAL DEVELOPMENT; FIRM SIZE; ENTRY; GROWTH; BARRIER; CONSTRAINTS; INNOVATION; MARKET;
D O I：
10.1016/j.jbankfin.2013.08.010
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using a comprehensive database of firms from 21 European countries over the period 1998-2008, we find that venture capital investment has a positive effect on the rate of new business creation. This is especially true in countries with higher entry costs, higher protection of intellectual property rights, and lower taxes on capital gains. Our results suggest that, controlling for country and industry characteristics, venture capital is beneficial to bringing new ideas to the marketplace in the shape of new companies. (C) 2013 Elsevier B.V. All rights reserved.
引用
收藏
页码：4695 / 4710
页数：16
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