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Driving Forces of Venture Capital Investments in Europe: A Dynamic Panel Data Analysis
TLDR
In this paper, the authors identify driving forces of venture capital activity for Western European countries using dynamic panel estimations and show that these factors do not affect expansion stage investments used as a broader definition of VC, while they positively affect early stage investments using as a narrow definition.Abstract:
Using dynamic panel estimations, this paper identifies driving forces of venture capital activity for Western European countries. Driving forces might be the liquidity of stock markets, human capital endowment, and labour market rigidities. The paper shows that these factors do not affect expansion stage investments used as a broader definition of venture capital, while they positively affect early stage investments used as a narrow definition. Thus, the results suggest not only that liquid stock markets play an important role for the development of venture capital markets but also that they are not the only factor that drives venture capital activity.read more
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Investment in capital markets
TL;DR: In this paper, the authors discuss the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language.
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The European Venture Capital and Private Equity country attractiveness indices
TL;DR: In this paper, the authors compared the attractiveness of 27 European countries for institutional investments into the Venture Capital and Private Equity asset class using 42 different parameters, and proposed an aggregation structure that allows for benchmarking on more granulated levels.
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Environmental Policies and Risk Finance in the Green Sector: Cross-country Evidence
Chiara Criscuolo,Carlo Menon +1 more
TL;DR: In this article, the authors provide a detailed description of risk finance in the green sector across 29 OECD and BRIICS countries over the period 2005-2010 and identify the role that policies might have in shaping high-growth investments in this sector.
Journal ArticleDOI
The European Venture Capital and Private Equity Country Attractiveness Indices
TL;DR: In this paper, the authors compared the attractiveness of 27 European countries for institutional investments into the Venture Capital and Private Equity asset class using 42 different parameters, and proposed an aggregation structure that allows for benchmarking on more granulated levels.
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The Determinants of Venture Capital in Europe — Evidence Across Countries
TL;DR: In this article, the authors analyzed the determinants of European venture capital activity and found that the size of the M&A market and the market-to-book ratio have a positive impact on venture capital activities whereas the unemployment rate influences the venture capital market negatively.
References
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Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.
Manuel Arellano,Stephen Bond +1 more
TL;DR: In this article, the generalized method of moments (GMM) estimator optimally exploits all the linear moment restrictions that follow from the assumption of no serial correlation in the errors, in an equation which contains individual effects, lagged dependent variables and no strictly exogenous variables.
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Investor Protection and Corporate Governance
TL;DR: In this article, the authors argue that the legal approach is a more fruitful way to understand corporate governance and its reform than the conventional distinction between bank-centered and market-centered financial systems, and discuss the possible origins of these differences, summarize their consequences, and assess potential strategies of corporate governance reform.
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The structure and governance of venture-capital organizations
TL;DR: The authors describes and analyzes the structure of VC organizations, focusing on the relationship between investors and venture capitalists and between venture-capital firms and the ventures in which they invest, and contrasts VC organizations with large, publicly traded corporations and with leveraged buyout organizations.
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Estimating dynamic panel data models: a guide for macroeconomists ☆
Ruth A Judson,Ann L. Owen +1 more
TL;DR: In this paper, the bias of LSDV for dynamic panel data models can be sizeable, even when T = 20, and a corrected LSDV estimator is the best choice overall.
Posted Content
Assessing the Contribution of Venture Capital to Innovation
TL;DR: This paper examined the influence of venture capital on patent applications in twenty industries over three decades and found that increases in venture capital activity in an industry are associated with significantly higher patenting rates.