FINANCING VENTURES

被引：5
|
作者：
Greenwood, Jeremy
Han, Pengfei
Sanchez, Juan M. [1 ]
机构：
[1] Fed Reserve Bank St Louis, Broadway & Locust St, St Louis, MO 63102 USA
来源：
INTERNATIONAL ECONOMIC REVIEW | 2022年 / 63卷 / 03期
基金：
美国国家科学基金会;
关键词：
MORAL HAZARD; IMPACT;
D O I：
10.1111/iere.12561
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The relationship between venture capital (VC) and growth is examined using an endogenous growth model incorporating dynamic contracts between entrepreneurs and venture capitalists. At each stage of financing, venture capitalists evaluate the viability of startups. If viable, venture capitalists provide funding for the next stage. The success of a project depends on the amount of funding. The model is confronted with stylized facts about VC: statistics by funding round concerning success rates, failure rates, investment rates, equity shares, and initial public offering values. The increased efficiency offered by VC for financing inventive startups is important for long-run growth and welfare.
引用
收藏
页码：1021 / 1053
页数：33
相关论文
共 50 条
  • [1] FINANCING MINING VENTURES
    SELL, JA
    MINING CONGRESS JOURNAL, 1978, 64 (03): : 43 - &
  • [2] FINANCING OF BIOTECH VENTURES
    Pomykalski, Przemyslaw
    Bakalarczyk, Sebastian
    Weiss, Elzbieta
    NANOCON 2010, 2ND INTERNATIONAL CONFERENCE, 2010, : 471 - 477
  • [3] Financing biotechnology ventures in Australia
    Smith, B
    Brooke, C
    DRUG DEVELOPMENT RESEARCH, 1999, 46 (3-4) : 167 - 170
  • [4] Financing biotech ventures in Scandinavia
    Thomas Tscherning
    Lone Frank
    Florian Schönharting
    Nature Biotechnology, 1999, 17 (Suppl 3) : 33 - 34
  • [5] FINANCING OF OVERSEAS VENTURES AND OPERATIONS
    BREEDING, CW
    MANAGEMENT CONTROLS, 1966, 13 (12): : 242 - 255
  • [6] FINANCING OPTIONS FOR ENTREPRENEURIAL VENTURES
    Markova, Sonja
    Petkovska-Mircevska, Tatjana
    AMFITEATRU ECONOMIC, 2009, 11 (26) : 597 - 604
  • [7] EUROPEAN APPROACH TO THE FINANCING OF SPACE VENTURES
    DUMMLER, H
    ESA BULLETIN-EUROPEAN SPACE AGENCY, 1980, (21) : 63 - 65
  • [8] Alternative Ways of Financing New Ventures
    Prochazkova, Petra Tausl
    SUSTAINABLE ECONOMIC GROWTH, EDUCATION EXCELLENCE, AND INNOVATION MANAGEMENT THROUGH VISION 2020, VOLS I-VII, 2017, : 901 - 909
  • [9] Structuring bank financing for satellite ventures
    Orcel, JP
    THIRD EURO-LATIN AMERICAN SPACE CONFERENCE, 1998, : 423 - 426
  • [10] Multistage selection and the financing of new ventures
    Eckhardt, JT
    Shane, S
    Delmar, F
    MANAGEMENT SCIENCE, 2006, 52 (02) : 220 - 232
12345