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http://hdl.handle.net/10419/23962
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| Title: | | Firm Level Implications of Early Stage Venture Capital Investment: An Empirical Investigation  |
| Authors: | | Keilbach, Max Engel, Dirk |
| Issue Date: | | 2002 |
| Series/Report no.: | | ZEW Discussion Papers 02-82 |
| Abstract: | | The 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 a statistical matching procedure we draw an adequate control group of non venture funded firms. The analysis gives evidence that innovative firms will be able to close a venture capital deal with higher probability. Once the firms are venture funded, they display higher growth rates but do not differ in their innovative output from otherwise comparable firms. We derive strategic implications. |
| Subjects: | | Firm Demography Firm Start-Ups Firm Growth Venture Capital Patented Inventions Microeconometric Evaluation Methods |
| JEL: | | L21 D21 C33 D92 C14 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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