Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/228450
Authors: 
Berger, Marius
Hottenrott, Hanna
Year of Publication: 
2020
Series/Report no.: 
ZEW Discussion Papers No. 20-086
Abstract: 
Research suggests that public subsidies for newly founded firms have a positive effect on follow-on financing, in particular, Venture Capital (VC). This study differentiates between Government VC, Independent VC, Corporate VC, and Business Angels and shows that public subsidies are not relevant for all of these sources. When accounting for firm characteristics that drive both selection into public subsidies as well as into VC financing through econometric matching techniques, we find that subsidies are only linked to Government VC and Business Angel financing.
Subjects: 
Start-up Subsidies
Entrepreneurship Policy
Entrepreneurial Finance
Venture Capital
Business Angels
JEL: 
G24
L26
O25
O31
Document Type: 
Working Paper

Files in This Item:
File
Size
619.73 kB





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