Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/70767 
Title: 

Which form of venture capital is most supportive of innovation? Evidence from European biotechnology companies

The document was removed on behalf of the author(s)/ the editor(s).

Year of Publication: 
2013
Series/Report no.: 
FZID Discussion Paper No. 69-2013
Publisher: 
Universität Hohenheim, Forschungszentrum Innovation und Dienstleistung (FZID), Stuttgart
Abstract: 
We argue that different forms of venture capital contribute differently to the innovation process and, consequently, differ in their impact on portfolio companies' innovation output. Our results suggest that the innovation output of companies financed by independent VCs increases significantly faster than that of both non-VC-backed companies and of companies financed by governmental VCs. However, governmental VCs may be beneficial for innovation by complementing the skills and resources provided by an independent VC in a heterogeneous syndicate.
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
The document was removed on behalf of the author(s)/ the editor(s) on: April 11, 2013
There are no files associated with this item.


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