Dynamic Efficiency and Path Dependencies in Venture Capital Markets: 327 - Rilegato

Schertler, Andrea

 
9783540407102: Dynamic Efficiency and Path Dependencies in Venture Capital Markets: 327
Rilegato
ISBN 10: 3540407103 ISBN 13: 9783540407102
Casa editrice: Springer Nature, 2003

Sinossi

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 in inefficiencies in experience accumulation. The study argues that government subsidies in such a situation may increase venture capitalists' experience accumulation. However, using an agency model, this study shows that subsidies can have negative effects since they reduce venture capitalists' incentives to support the management teams. 

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Contenuti

 Motivation.- Venture Capital Finance in the United States and in Germany.- Dynamic Efficiency of Venture Capital Markets.- The Effects of Public Subsidies on Path Dependencies in Venture Capital Markets.- Concluding Remarks. 

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Editore
Springer Nature
Data di pubblicazione
2003
Lingua
Inglese
ISBN 10 
3540407103
ISBN 13 
9783540407102
Rilegatura
Copertina rigida
Numero di pagine
190
Redattore
Siebert Horst
Contatto del produttore
non disponibile
Persona responsabile
CMN Printpool Inh. Mathis Neumann
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