Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/80817
Authors: 
Arvanitis, Spyros
Stucki, Tobias
Year of Publication: 
2013
Series/Report no.: 
KOF Working Papers, KOF Swiss Economic Institute, ETH Zurich 332
Abstract: 
In this study we investigate the impact of early stage venture capital on innovation activities of Swiss start-ups. This is done based on a cohort of start-ups that is representative of all firms founded in Switzerland in 1996/97 as recorded by a census of the Swiss Federal Statistical Office for this period. We analyze not only the impact of early stage venture capital on innovation performance 3 years after firm foundation but also 6 and 9 years after firm start, respectively, for those firms that survived so long and reported continuously innovation activities (persistence of innovation). The results support neither the hypothesis of a positive impact on initial innovation activities nor the hypothesis of a positive time-persistent effect on innovation performance of start-ups.
Subjects: 
venture capital
start-ups
innovation performance
JEL: 
L20
O31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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