Venture Capital Investments in Europe and Firm Productivity - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Venture Capital Investments in Europe and Firm Productivity write by Massimo G. Colombo. This book was released on 2014. Venture Capital Investments in Europe and Firm Productivity available in PDF, EPUB and Kindle. Using a new European Commission-sponsored longitudinal dataset - the VICO dataset - we assess the impact of independent (IVC) and corporate venture capital (CVC) investments on the total factor productivity (TFP) of European high-tech entrepreneurial firms during the period 1992-2010. After controlling for potential sources of endogeneity and selection bias, our results indicate that both IVC and CVC investments boost TFP, whereas investments syndicated by both IVC and CVC investors do not. These effects are mostly due to an increase in sales value. Moreover, the dynamics of the impact of VC investments on TFP and its components - sales value, fixed assets, and payroll expenses - differs depending on the type of investor.
Venture Capital in Europe
Venture Capital in Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Venture Capital in Europe write by Greg N. Gregoriou. This book was released on 2011-04-01. Venture Capital in Europe available in PDF, EPUB and Kindle. 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
Venture Capital Performance
Venture Capital Performance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Venture Capital Performance write by Keith Arundale. This book was released on 2019-11-22. Venture Capital Performance available in PDF, EPUB and Kindle. European venture capital (VC) funds have historically underperformed their US counterparts. This has resulted in reduced investment into European VC by the traditional institutional investors. This book investigates the factors that give rise to the performance difference. It is based on the author’s research at the Adam Smith Business School, University of Glasgow which involved a qualitative study of some 64 VC firms in the UK, continental Europe and the US, supplemented by 40 interviews with other stakeholders, including limited partner investors, corporate venturers, entrepreneurs and advisors. Readers will gain an in-depth understanding of the various structural, operational and wider environmental factors that impact on the performance difference between UK/European and US VC funds. The study is unique in that it provides, for the first time, a holistic and extensive analysis of the entire investment process from sourcing deals to exiting deals specifically contrasting Europe and the US in terms of the variables pertaining to the investment process and the impact on the fund performance. Factors impacting on the performance differential are structural, resulting from characteristics of the funds themselves, operational such as the investment practices of the VC firms which manage the funds and environmental such as culture and attitude to risk and the wider ecosystem in which the funds operate. These factors are set out clearly for the reader. The characteristics of the better performing funds in Europe and the US are also investigated. The book is aimed at academics who are researching venture capital fund performance and investment practices and also at practitioners, advisors and policymakers who want to learn about best VC investment practices. Whilst the book is focused on European and US VC investing, the best practices are also pertinent for VC firms and funds setting up in other geographies, particularly in emerging markets. To this end, best practice guidelines based on the research are included.
Governmental and Independent Venture Capital Investments in Europe
Governmental and Independent Venture Capital Investments in Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Governmental and Independent Venture Capital Investments in Europe write by Douglas J. Cumming. This book was released on 2017. Governmental and Independent Venture Capital Investments in Europe available in PDF, EPUB and Kindle. This paper examines the impact of government versus private independent venture capital (VC) backing on the exit performance of entrepreneurial firms. Our analyses are based on the VICO dataset, which avoids the coding problems of VC type in the Thompson Financial SDC dataset. The data indicate that private independent VC-backed companies have better exit performance than government-backed companies. Mixed-syndicates of private-independent and governmental VC investors give rise to a higher (but not statistically different) likelihood of positive exits than that of IVC-backing. Our findings are not influenced by the composition of the syndicate in terms of size and institutional heterogeneity. Our results remain stable after controlling for endogeneity concerns, selection bias, omitted variables bias, legal and institutional differences across countries and over time through several econometric techniques. Moreover, our results are not driven by: i) the holding period of the different types of VC investors; ii) the potential signaling effect of GVC towards IVC investors; iii) the firm's financial structure and net cash-flow ratio; iv) the investment stage; v) the distance between the VC investor and the target company.
Stepping Up Venture Capital to Finance Innovation in Europe
Stepping Up Venture Capital to Finance Innovation in Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Stepping Up Venture Capital to Finance Innovation in Europe write by Mr. Nathaniel G Arnold. This book was released on 2024-07-12. Stepping Up Venture Capital to Finance Innovation in Europe available in PDF, EPUB and Kindle. Relative to the US, productivity growth and investment in R&D in lagging in the EU, where it is more difficult to finance and scale up promising, innovative startups. Many of the most successful EU startups move elsewhere for financing, causing the EU to lose out on both the direct growth benefits and positive spillovers from these innovative firms. The EU could nurture innovative startups by accelerating the development of its venture capital (VC) ecosystem. Reducing regulatory frictions, especially ones that deter pensions funds and insurers from investing in VC, combined with well-designed tax incentives for R&D investments could help accelerate the development of the VC sector. These and other key CMU initiatives, such as the consolidation of stock markets and reforming and harmonizing insolvency regimes, will take time. Given the urgency to boost innovation, giving public financial institutions like the European Investment Fund a more active and expanded role in kickstarting VC markets where needed and in familiarizing investors with the VC asset class can be a helpful interim step.
