Dynamic Efficiency and Path Dependencies in Venture Capital Markets: 327 (Kieler Studien - Kiel Studies) - Tapa dura

Schertler, Andrea

 
9783540407102: Dynamic Efficiency and Path Dependencies in Venture Capital Markets: 327 (Kieler Studien - Kiel Studies)
Tapa dura
ISBN 10: 3540407103 ISBN 13: 9783540407102
Editorial: Springer, 2003

Sinopsis

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 in inefficiencies in experience accumulation. The study argues that government subsidies in such a situation may increase venture capitalists’ experience accumulation. However, using an agency model, this study shows that subsidies can have negative effects since they reduce venture capitalists’ incentives to support the management teams. 

"Sinopsis" puede pertenecer a otra edición de este libro.

Reseña del editor

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 in inefficiencies in experience accumulation. The study argues that government subsidies in such a situation may increase venture capitalists' experience accumulation. However, using an agency model, this study shows that subsidies can have negative effects since they reduce venture capitalists' incentives to support the management teams. 

"Sobre este título" puede pertenecer a otra edición de este libro.

Editorial
Springer
Año de publicación
2003
Idioma
Inglés
ISBN 10 
3540407103
ISBN 13 
9783540407102
Encuadernación
Tapa dura
Número de páginas
216
Contacto del fabricante
no disponible
Persona responsable
CMN Printpool Inh. Mathis Neumann
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