المستودع الأكاديمي جامعة المدينة

The Impact of Public Subsidies on Venture Capital Investments in Start-Up Enterprises

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dc.creator Schertler, Andrea
dc.date 2000
dc.date.accessioned 2013-10-16T06:56:29Z
dc.date.available 2013-10-16T06:56:29Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17715
dc.identifier ppn:323915795
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17715
dc.description The relationship between a venture capitalist and an entrepreneur is modeled to investigate the impact of public subsidies on venture capital investments in start-up enterprises. In this model, the venture capitalist only finances start-up enterprises if he has sufficient expertise to make high-risk investments in new technology profitable in terms of their expected value. It is shown that a venture capitalist who already has sufficient expertise reduces his management support in the start-up enterprise under a public subsidy. Moreover, venture capitalists who do not have sufficient expertise may finance start-up enterprises if future losses of the start-up investment are partly covered by the government.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1018
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject L14
dc.subject G28
dc.subject G24
dc.subject D82
dc.subject ddc:330
dc.subject venture capital
dc.subject double-sided moral hazard
dc.subject public subsidies
dc.subject start-up investments
dc.subject Risikokapital
dc.subject Unternehmensgründung
dc.subject Investition
dc.subject Finanzierung
dc.subject Investitionspolitik
dc.subject Subvention
dc.subject Moral Hazard
dc.subject Theorie
dc.title The Impact of Public Subsidies on Venture Capital Investments in Start-Up Enterprises
dc.type doc-type:workingPaper


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