Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/85263
Authors: 
Heger, Diana
Year of Publication: 
2013
Series/Report no.: 
ZEW Discussion Papers 13-077
Abstract: 
This paper examines the role of venture capital on a firm's innovation activities by using a data set of German technology-based firms founded between 1996 and 2005. Innovation is proxied by patent counts and an index of innovativeness which reflects the degree to which a young firm has developed new technologies based on its own or external resources. The results show that VC financing has a positive impact on both patenting and innovativeness, even if we account for endogeneity of VC financing.
Subjects: 
innovation
venture capital
young technology-based firms
discrete choice methods
count data models
endogeneity
JEL: 
O31
G24
C31
C35
L20
Document Type: 
Working Paper

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