Download or read book Does Venture Capital Investment Spur Innovation Cross Countries Analysis written by Nawab Khan and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a cross country study which includes both developed and developing countries. We took top 41 counties on the base of venture capital fund raised from 2006-2016. We include the country in our sample which has at least two years VC fund raised data. For empirical analysis we use Ordinary Least Square (OLS) regression with robust standard error for investigating VC impact on patents. First, we separately analyzed VC fund raised, VC number of firms, and VC backed companies impact on total patents. In the second stage we make VC index to analyze the composite impact of VC on patents generation. Our empirical results show strong and significant VC impact on patents. We also examine VC fund raising impact on foreign and domestic resident registered number of patents from 2006 to 2016. which shows VC fund raising stronger impact on foreign register patents than residents register patents. Over all our results suggest that VC investment significantly spur innovation. These results suggest to government and policy maker that innovation can be promoted through facilitating VC investment.

Download or read book Cross Border Venture Capital Investments written by Horstense Tarrade and published by Springer Science & Business Media. This book was released on 2012-07-02 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hortense Tarrade analyses over 200,000 venture capital (VC) investments over the past 20 years to understand the investors' motivation to select national or foreign companies into their portfolio. She compares the sensitivity of US-based, non-US and German VC firms to the availability of local deal supply and demand as well as the relative importance of their intrinsic capabilities in their investment scope decision ("Why do VC firms invest on a national, continental or global scope?"). Further, she provides an in-depth analysis of the role of geographic and cultural distance in investments by German VCs ("Why do VC firms invest in a target location rather than another?").

Download or read book Venture Capital in Germany and the U S Differences and the Influence of Culture written by Lars Abraham and published by diplom.de. This book was released on 2009-10-30 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Introduction: In today s modern economy a country s or region s competitiveness lies in its capability to innovate. Whilst earlier old and established companies were reliable producers of innovation as well as jobs, that is changing. The big corporations are outsourcing and downsizing, and the new technologies are emerging from companies that did not exist 20 years ago . This quotation taken from the Handbook of Research on Venture Capital points out the increasing relevance of the Schumpeterian growth regime of today s advanced economies which means that growth and wealth is unlikely to be maximized if most new business developments are carried out by old long-existing corporations. While in Europe only few global champions have been created in the past 50 years the United States economy seems to be capable of continuously creating great, leading-edge companies. Why is Europe lagging behind in enabling new ventures to become global champions? Why are successful high growth companies like Amazon, AMD, AOL, Apple, Cisco Systems, eBay, Genentech, Intel, Microsoft, Oracle, Sun Microsystems, Yahoo and recently Google all US based corporations and not of European or Japanese origin? One reason is seen in the outstanding capability of the US economy to put innovative business ideas from individuals, universities and other research institutions into practice and thus create with the help of a well developed venture capital industry new global champions. A strong and sophisticated VC industry is widely recognised for providing a major contribution to turn innovation into (internationally) successful high-growth corporations and therewith foster economic growth. Taking Germany as the largest economy in Europe this thesis will try to work out the main differences of the VC market in Germany - which is still considered as lagging behind - and its correspondent in the United States. While most of the previous comparative studies focus on single aspects of the VC market and the VC investment process this work will try to provide a brief but comprehensive empirical analysis of the entire venture capital investment process (from fundraising to exiting investments). As business in general and the venture capital industry in particular is considered to be increasingly influenced by socio-economic and cultural factors this thesis draws special attention to differences related to the influence of culture on both VC markets. Hence it will be [...]

Download or read book Criteria Used by Venture Capitalists written by Russell M. Knight and published by . This book was released on 1993 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Venture Capital and High Tech Start Ups in the Italian and German ICT Sector written by Fabrizio Milio and published by GRIN Verlag. This book was released on 2011-07-07 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2010 in the subject Business economics - Company formation, Business Plans, grade: 1.0, Schmalkalden University of Applied Sciences, language: English, abstract: Now-a-days fundamental changes are taking place in the world as well as in the global economy, where events such as globalization, financial crises, wars, hurricanes and earthquakes – just to new a few of them – are shaping the daily life of million of people. However, to be aware of these events is not possible without another phenomenon that makes information about these extraordinary events available to each of us, i.e. innovation, since without it would not be possible to know about these events. However, one of the fields where innovation occurs really fast is the field of information and communication technologies (ICT). Indeed, incredible progress in the field of information and communication technologies (ICT) has made things possible today which would have been unthinkable some decades ago, and as ICT continued to spread into all sectors of social and economic life, it became a vital instrument for creating knowledge based society, building and sustaining human development, as well as transforming our world from the industrial society into an informational one. In this context, by the opening of borders to trade and foreign investment, globalization brings opportunities and pressures for domestic firms in global market economies to innovate and improve their competitive position, and thus contribute to foster the economic growth of a country. Aware of this, and even though the Lisbon Strategy, set out by the European Council in Lisbon in March 2000, with the aim to make the EU “the most competitive and dynamic knowledge-based economy in the world capable of sustainable economic growth with more and better jobs and greater social cohesion”, by 2010, did not fully accomplished most of its initial goals, many countries are now starting policies with the aim to develop their strategic innovative sectors in order to compete in the international markets. Among these countries we can find also Germany and Italy, which aware of their growth po- tentials in some high-tech sectors such as ICT, are seizing the moment by reconsidering new policy actions to cope with the international competitive pressures that the globalization as unleashed in the last few years. Bearing this in mind, aim of this work is to present the current trends, as well as growth potentials, in the German and Italian ICT sectors by focusing the attention on venture capital and high-tech start-ups.

Download or read book Essays on International Venture Capital written by Arash Soleimani Dahaj and published by . This book was released on 2017 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: Venture Capital firms (VCs), compared with other sources of financing, are known to be a value-adding source of finance for high-growth entrepreneurial firms. Venture capital has transitioned from a local to an international subject in recent years. In this thesis , I address three important aspects of the international venture capital research area. In the first essay, I answer these questions: do venture capital firms decide to invest in a cross-border company based solely on their own international experience, or do they also decide based on other venture capital firms' behaviour in investing in that country? I address these questions by investigating vicarious and experiential learning in the venture capital context, focusing on US cross-border venture capital investment data from 2000 to 2013. The analysis indicates that, on average, venture capital firms use both experiential and vicarious learning strategies in making their cross-border investment decisions. Moreover, the effect of experiential learning is greater than that of vicarious learning, and a venture capital firm's size moderates this effect. In the second essay, I answer this question: do government venture capital funds crowd-in or crowd-out international private venture capital investment? The crowding-in effect arises when international private venture capital benefits from government subsidies through the enhancement of an entrepreneurial ecosystem and investment syndication. The crowding-out effect arises when government venture capital competes with private venture capital, bidding up deal prices and lowering returns, thereby spurring local private venture capitalists to invest internationally. I examine data from 26 countries from 1998 to 2013. The analysis indicates that, on average, more mixed-structured government venture capital investments than pure-structured government investments in a country crowds-in domestic and foreign private venture capitalists internationally. Moreover, the effect of both structures is greater on domestic private venture capitalists than on foreign ones. In the third essay, I investigate whether government venture capital practices in Canada promote a robust entrepreneurial ecosystem, by analyzing the effect of these practices on domestic and cross-border venture capital investments by private venture capital firms separately. I research the following two questions in parallel: a) Does Canadian government venture capital investment attract private venture capital firms to invest in the domestic market? b) Does Canadian government venture capital investment lead to, or prevent, domestic private venture capital firms from investing in other countries? I find that Canadian government venture capital investment has no measurable impact on private venture capital firms' decisions to invest in the domestic market. I also find that certain of the Canadian government's venture capital programs have displaced private venture capital, although with negligible impact, towards cross-border VC markets, primarily to the United States.

Download or read book Venture Capital and New Technology Based Firms written by Oliver Pfirrmann and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this study is to investigate in the role of Venture Capital in the development of New Technology Based Firms in two countries: USA and Germany. Based on literature review and empirical work issues concerning the extent and stage of financing, the nature of oversight provided by Venture Capitalists and the framework conditions for Venture Capital are subject of investigation. The results have been reflected in a workshop with experts from research, industry and policy.

Download or read book The Venture Capital Cycle written by Paul Alan Gompers and published by MIT Press. This book was released on 2004 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the venture capital process, from fund-raising through investing to exiting investments; a new edition with major revisions and six new chapters that reflect the latest research.

Download or read book Venture Capital in Europe written by Greg N. Gregoriou and published by Elsevier. This book was released on 2011-04-01 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until recently, only the United States had an active venture capital market. This is changing rapidly, as many other countries have experienced rapid growth in venture capital financing over the past five years. This book contains new scientific articles showcasing the latest research on venture capital in Europe. Venture capital investment remains a hot topic with portfolio managers, individual investors, academics worldwide. This book examines in detail all the major issues regarding venture capital investment: contracting, financing, regulation, valuation, etc. and identifies new trends in the venture capital arena. Features a foreword by Josh Lerner. *The only book in which academics from around the world present the latest research on venture capital in Europe *Covers all of Europe as well as including overview papers about venture capital industry, public and private venture capital, valuation, financing, contracting, structuring, regulation, etc. *Comprehensive, authoritative coverage

Download or read book Venture Capital Investors and Portfolio Firms written by Sophie Manigart and published by . This book was released on 2013 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Venture Capital Investors and Portfolio Firms venture capital firms are considered as investors in young growth-oriented companies. The authors focus on the later phases of the venture capital (VC) investment process. They therefore emphasize monitoring, value adding, and exiting activities. They also include a review of the literature on the outcome of venture capital investment activities. Research findings are drawn principally from refereed journal papers in entrepreneurship, finance, and management. The monograph is divided into six principal areas: 1.What venture capital firms do. 2.The impact of VCs on portfolio firms and other stakeholders. 3.The role of syndication. 4.The nature and timing of exit from VC investments. 5.The role of VCs in portfolio companies that undergo an initial public offering (IPO). 6.The returns from investing in VC. Venture Capital Investors and Portfolio Firms concludes with a detailed agenda for further research. To aid the reader who wishes to pursue particular papers in more detail, the authors provide a summary of the main papers in this literature in a set of tables where they identify the authors, publication date, the journal, the main research question, the theoretical perspective, data, and the principal findings.

Download or read book Summary of Robyn Klingler Vidra s The Venture Capital State written by Everest Media and published by Everest Media LLC. This book was released on 2022-02-25T10:25:00Z with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 Many politicians around the world have studied the drivers of Silicon Valley’s success, and want to replicate it in their own cities. They look at the area’s venture capital industry, which epitomizes the neoliberal essence of Silicon Valley, and its role in fostering innovation and entrepreneurship. #2 Venture capital, which is largely funded by the public, is often presented as the solution to the lack of investment in innovation. #3 There are at least 45 countries that have created local Silicon Valley–like venture capital markets. The spread of VC policy transcends ideological lines, as neoliberal and socialist states, liberal market economies, and left- and right-wing governments alike pursue policy actions. #4 Despite widespread expectations of policy convergence, this study reveals that systematic diversity underpins the veneer of the convergent VC policy trend

Download or read book Innovation and Venture Capital Law and Policy written by Stephen Barkoczy and published by . This book was released on 2016 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: Innovation and Venture Capital Law and Policy examines the Australian innovation system, focusing on the broad range of government programs that have been introduced over the years to foster innovation and encourage venture capital investment in entrepreneurial start-up and early stage companies. It discusses the importance of innovation to a country's economic growth and the critical role that venture capital plays in financing new businesses. The book also looks at the innovation systems in the United States and Israel. Both countries have been selected for comparative purposes as they have highly developed innovation systems and are widely respected as world leaders in venture capital investment.Innovation and Venture Capital Law and Policy has been written as a scholarly monograph that explores these topics in detail. It is designed to be a practical resource for entrepreneurs running start-up and early stage companies, angels and venture capitalists who invest in such companies, staff engaged in university technology transfer offices, and accountants and lawyers who advise these parties. In addition, the book should also be of use to governments and policymakers that are involved in designing and administering innovation and venture capital programs, as well as to scholars and students studying innovation and venture capital law and policy.

Download or read book Public Policy for Venture Capital written by Arnd Plagge and published by Springer Science & Business Media. This book was released on 2007-09-24 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arnd Plagge evaluates public policy for venture capital in the USA and Germany and presents a comprehensive study of the American and the German market for venture capital. He shows that current German public policies aimed at fostering venture capital activity are severely flawed and that only a reversal of priorities, away from supply-side policies towards a demand-oriented stance, will yield real payoffs.

Download or read book The Venture Capital State written by Robyn Klingler-Vidra and published by Cornell University Press. This book was released on 2018-09-15 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Silicon Valley has become shorthand for a globally acclaimed way to unleash the creative potential of venture capital, supporting innovation and creating jobs. In The Venture Capital State Robyn Klingler-Vidra traces how and why different states have adopted distinct versions of the Silicon Valley model. Venture capital seeks high rewards but is enveloped in high risk. The author’s deep investigations of venture capital policymaking in East Asian states (Hong Kong, Taiwan, Singapore) show that success does not reflect policymakers’ ability to replicate the Silicon Valley model. Instead, she argues, performance reflects their skill in adapting a highly lauded model to their local context. Policymakers are "contextually rational" in their learning; their context-rooted norms shape their preferences. The normative context for learning about policy—how elites see themselves and what they deem as locally appropriate—informs how they design their efforts. The Venture Capital State offers a novel conceptualization of rationality, bridging diametrically opposed versions of bounded and conventional rationality. This new understanding of rationality is simultaneously fully informed and context based, and it provides a framework by which analysts can bring domestic factors to the very heart of international diffusion of policy. Klingler-Vidra concludes that states have a visible hand in constituting even quintessentially neoliberal markets.

Download or read book The Growth of Venture Capital written by Dilek Cetindamar and published by Praeger. This book was released on 2003-03-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The venture capital (VC) industry plays an important role in nurturing entrepreneurship and innovation, and its role varies from country to country. The six countries whose VC industries are analyzed here are the United States and Canada, whose VC industries are mature; Sweden and Denmark, which have established small but successful VC industries; and Israel and Turkey, whose experiences demonstrate the state of the young VC industry in transition economies. The analysis is based on the four main determinants of the VC industry: sources of financing, institutional infrastructure, exit mechanisms, and entrepreneurship and innovation generators. In addition, the special role of VC financing in the biomaterials industry is explained. Understanding the factors that contribute to the emergence of a successful venture capital industry is important for academics, VC associations, policy-making institutions, government agencies, and investors themselves. How can a country's venture capital infrastructure give it a competitive edge in the global economy? What is the role of VC in the new economy? How have VC industries developed differently in different countries? Are there any lessons for successful VC industry development that can be applied across nations and cultures? How do you measure the maturity of a country's VC industry? The editor and her contributors attempt to answer all these questions, among others. She concludes by offering policy suggestions for countries aiming to establish thriving VC industries of their own.

Download or read book Analysis of Economic Factors Influencing Venture Capital Investment in European Countries written by Anatolijs Prohorovs and published by . This book was released on 2015 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study is devoted to a comparative analysis of the level of venture capital funding in Europe. The goal of the study is to identify economic factors, which determine the activity of venture capital in the country. We considered a relationship between a volume of venture capital in a country and indicators of economic development such as gross domestic product, investments into research and development, turnover of innovation enterprises and others. Also we paid special attention to possibility of de-investment via initial public offering within a country. Applying modern techniques of data analysis, we discovered significant relationships effects of specified indicators on a volume of venture investments.

Download or read book A Practical Guide for Startup Valuation written by Sinem Derindere Köseoğlu and published by Springer Nature. This book was released on 2023-09-25 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds new light on the most important contemporary and emerging startup valuation topics. Drawing on the first-hand professional experience of practitioners, professionals, and startup experts from various fields of finance, combined with a sound academic foundation, it offers a practical guide to startup valuation and presents applications, practical examples, and case studies of real startup ecosystems. The book discusses pressing questions, such as: Why are startups in California are higher valued than those in New York? Or why do startups based in London receive higher valuations than those in Paris, Berlin, or Milan, even when they are based in similarly-sized economies, share the same industries, and often even have the same investors? Answering these questions, the authors present key topics, such as hierarchical and segmented approaches to startup valuation, business plans, and sensitivity analysis, many methods such as venture capital valuation, first Chicago valuation, scorecard valuation, Dave Berkus valuation, risk factor summation valuation, and discounted cash flow valuation, in addition to business valuation by data envelopment analysis and real options analysis, as well as critical conceptual issues in the valuation such as expected returns of the venture capital and price versus value concepts, among others. The book will help angel investors, venture capitalists, institutional investors, crowd-based fractional investors, and investment fund professionals understand how to use basic and advanced analytics for a more precise valuation that helps them craft their long-term capital-raising strategy and keep their funding requests in perspective. It will also appeal to students and scholars of finance and business interested in a better understanding of startup valuation.