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Europe's entry into the venture capital business : efficiency and policy

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dc.creator Stolpe, Michael
dc.date 2004
dc.date.accessioned 2013-10-16T06:02:28Z
dc.date.available 2013-10-16T06:02:28Z
dc.date.issued 2013-10-16
dc.identifier Kiel working paper Institut für Weltwirtschaft, Kiel 1223
dc.identifier http://hdl.handle.net/10419/3272
dc.identifier ppn:39318630X
dc.identifier ppn:39318630X
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/3272
dc.description This paper provides new evidence on Europe's experience with venture capital in the 1990s. Individual countries' activity is not solely determined by country characteristics and a purely domestic history, but also by a common European experience: the interdependence of valuations in primary equity markets. Each country must seek to improve the efficiency of its venture capital sector independently. Specific policies should depend on initial conditions and on the evolution of micro-efficiency. Initial public offerings backed by venture capital provide the appropriate window to look at the relative efficiency of individual venture capital organizations and their learning process over time. This paper is part of the international research programme on European Integration, Financial Systems and Corporate Performance (EIFC) carried out within the European Commission's specific programme "Improving the Human Research Potential and the Socio-Economic Knowledge Base". A first draft was discussed at the final EIFC programme workshop held on February 23, 2004, at the Kiel Institute for World Economics.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1223
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject ddc:330
dc.subject Risikokapital
dc.subject Internationaler Preiszusammenhang
dc.subject Spillover-Effekt
dc.subject Wirtschaftliche Effizienz
dc.subject Wertpapieremission
dc.subject Schätzung
dc.subject EU-Staaten
dc.subject Deutschland
dc.subject Frankreich
dc.title Europe's entry into the venture capital business : efficiency and policy
dc.type doc-type:workingPaper


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