EconStor >
Max-Planck-Institut für Ökonomik, Jena >
Discussion Papers on Entrepreneurship, Growth and Public Policy, MPI für Ökonomik >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/24912
  
Title:Does venture capital investment really require spatial proximity?: An empirical investigation PDF Logo
Authors:Fritsch, Michael
Schilder, Dirk
Issue Date:2006
Series/Report no.:Papers on entrepreneurship, growth and public policy 1406
Abstract:We examine the role of spatial proximity for Venture Capital (VC) investments in Germany. The main database is a survey of 85 personal interviews with representatives of different types of financial institutions. The analysis shows that spatial proximity is far less important for VC investments than is often believed. For example, the results indicate that syndication is partly used as an alternative to spatial proximity. Telecommunication does not work as a substitute for face-to-face contact. On the whole, regional proximity is not a dominant factor in VC partnerships. Therefore, the absence of VC firms in a region does not appear to cause a severe regional equity gap.
Subjects:Venture Capital
spatial proximity
start-up financing
JEL:G24
O16
D21
M13
R12
Document Type:Working Paper
Appears in Collections:Discussion Papers on Entrepreneurship, Growth and Public Policy, MPI für Ökonomik

Files in This Item:
File Description SizeFormat
512259445.PDF768.42 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/24912

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.