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dc.contributor.authorEngel, Dirken_US
dc.contributor.authorKeilbach, Maxen_US
dc.date.accessioned2009-01-28T16:10:16Z-
dc.date.available2009-01-28T16:10:16Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/20012-
dc.description.abstractThe paper analyses the impact of venture capital finance on growth and innovation activities of young German firms. Among other variables, our panel of firm data includes data on venture capital funding and patent applications. With statistical matching procedures we draw an adequate control group of non­venture funded but otherwise comparable firms. The analysis confirms other findings that venture funded firms in Germany have higher number of patent applications than those in the control group. However, they do so already before the venture capitalists engagement. After this engagement, the number of patent applications does not differ significantly from that of the control group, however the venture funded firms display significantly larger growthrates. We conclude that the higher innovation output of venture funded firms is mainly driven by the selection process made by the venture capitalist.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesPapers on entrepreneurship, growth and public policy 2205en_US
dc.subject.jelC33en_US
dc.subject.jelC14en_US
dc.subject.jelD92en_US
dc.subject.jelD21en_US
dc.subject.jelL21en_US
dc.subject.ddc330en_US
dc.subject.keywordFirm Demographyen_US
dc.subject.keywordFirm Start-Upsen_US
dc.subject.keywordFirm Growthen_US
dc.subject.keywordVenture Capitalen_US
dc.subject.keywordPatented Innovationsen_US
dc.subject.keywordMicroeconomic Evaluation Methodsen_US
dc.subject.stwRisikokapitalen_US
dc.subject.stwUnternehmensgründungen_US
dc.subject.stwInnovationen_US
dc.subject.stwUnternehmenswachstumen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleFirm level implications of early stage venture capital investment : an empirical investigationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn494686936en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Discussion Papers on Entrepreneurship, Growth and Public Policy, MPI für Ökonomik

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