Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17715
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dc.contributor.authorSchertler, Andreaen_US
dc.date.accessioned2009-01-28T14:59:00Z-
dc.date.available2009-01-28T14:59:00Z-
dc.date.issued2000en_US
dc.identifier.urihttp://hdl.handle.net/10419/17715-
dc.description.abstractThe relationship between a venture capitalist and an entrepreneur is modeled to investigate the impact of public subsidies on venture capital investments in start-up enterprises. In this model, the venture capitalist only finances start-up enterprises if he has sufficient expertise to make high-risk investments in new technology profitable in terms of their expected value. It is shown that a venture capitalist who already has sufficient expertise reduces his management support in the start-up enterprise under a public subsidy. Moreover, venture capitalists who do not have sufficient expertise may finance start-up enterprises if future losses of the start-up investment are partly covered by the government.en_US
dc.language.isoengen_US
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen_US
dc.relation.ispartofseries|aKieler Arbeitspapiere |x1018en_US
dc.subject.jelL14en_US
dc.subject.jelG28en_US
dc.subject.jelG24en_US
dc.subject.jelD82en_US
dc.subject.ddc330en_US
dc.subject.keywordventure capitalen_US
dc.subject.keyworddouble-sided moral hazarden_US
dc.subject.keywordpublic subsidiesen_US
dc.subject.keywordstart-up investmentsen_US
dc.subject.stwRisikokapitalen_US
dc.subject.stwUnternehmensgründungen_US
dc.subject.stwInvestitionen_US
dc.subject.stwFinanzierungen_US
dc.subject.stwInvestitionspolitiken_US
dc.subject.stwSubventionen_US
dc.subject.stwMoral Hazarden_US
dc.subject.stwTheorieen_US
dc.titleThe Impact of Public Subsidies on Venture Capital Investments in Start-Up Enterprisesen_US
dc.typeWorking Paperen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:ifwkwp:1018-
dc.identifier.printppn323915795en_US

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