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Autoren: 
Audretsch, David B.
Lehmann, Erik E.
Datum: 
2004
Schriftenreihe/Nr.: 
Papers on Entrepreneurship, Growth and Public Policy No. 1904
Zusammenfassung: 
Using a data set of the firms listed on the Neuer Markt in Germany, this paper demonstrates that venture backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study provide evidence for the hypothesis that small and innovative firms are more likely to be financed by venture capitalists instead of banks. We also provide evidence that the presence of venture capitalists enhance the growth rates of firms positively.
Schlagwörter: 
Venture Capital
New Economy
Entrepreneurship
Corporate Governance
JEL: 
L11
G32
M13
Dokumentart: 
Working Paper

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