Bridging the equity gap for young innovative companies : The design of effective government venture capital fund programs
| Autor: | Yan Alperovych, Alexander Peter Groh, Anita Quas |
|---|---|
| Přispěvatelé: | emlyon business school |
| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
Finance
Web syndication Bridging (networking) Regulatory capture business.industry Strategy and Management 05 social sciences Equity (finance) equity gap Management Science and Operations Research Venture capital 050905 science studies [SHS.ECO]Humanities and Social Sciences/Economics and Finance Management of Technology and Innovation 0502 economics and business Governmental venture capital [SHS.GESTION]Humanities and Social Sciences/Business administration Business regional characteristics 0509 other social sciences 050203 business & management |
| Zdroj: | Research Policy Research Policy, 2020 |
| ISSN: | 0048-7333 |
| Popis: | International audience; Governmental venture capital funds (GVCs) are created by policymakers around the world to support young innovative companies (YICs) with the aim of “bridging the equity gap”. In this paper, we study the heterogeneity in the design of GVC programs in Europe and identify the design features that are most effective in achieving the desired outcomes of this policy. Specifically, we focus on the probability that GVC-backed companies will receive additional funds from private venture capital investors and, ultimately, changes in their growth and innovation outcomes. We find that the choices of location, colocation, syndication and industry focus of a GVC program substantially influence the extent to which it is able to achieve such goals. Important policy implications are discussed. |
| Databáze: | OpenAIRE |
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