• Media type: Book; Thesis
  • Title: Dynamic efficiency and path dependencies in venture capital markets
  • Contributor: Schertler, Andrea [Author]
  • Published: Berlin; Heidelberg [u.a.]: Springer, 2003
  • Published in: Kieler Studien ; 327
  • Extent: XVIII, 190 S.; graph. Darst; 24 cm
  • Language: English
  • ISBN: 3540407103
  • RVK notation: QK 620 : Kapitalmärkte allgemein
    QD 000 : Allgemeines
    QX 000 : Allgemeines. Soziale Sicherheit
    QX 900 : Wohlfahrtswesen, Sozialeinrichtung. Allgemeines
    QP 752 : Finanzierungsformen (außer Leasing und Factoring)
  • Keywords: Deutschland > Innovationsförderung > Risikokapital > Beteiligungsfinanzierung > Mikrostrukturtheorie > USA
    Kapitalmarkt
  • Origination:
  • University thesis: Zugl.: Kiel, Univ., Diss., 2003
  • Footnote:
  • Description: 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 ininefficiencies in experience accumulation. The study argues that government subsidies in such a situation may increase venture capitalistsexperience accumulation. However, using an agency model, this study shows that subsidies can have negative effects since they reduce venture capitalistsincentives to support the management teams

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  • Shelf-mark: R2019 8 8683
  • Item ID: 30813618
  • Status: Loanable, place order
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