Does venture capital really foster innovation?

• Autor(es): Faria, Ana Paula ; Barbosa, Natália
• Data: 2013
• Identificador Persistente: http://hdl.handle.net/1822/23492
• Origem: RepositóriUM - Universidade do Minho
• Assunto(s): Venture capital; Innovation; Dynamic panel data
• Tipo de Documento: Research paper
• Idioma: Inglês

Descrição

Using panel data of 17 European Union countries, we find robust empirical support for a positive impact of venture capital on innovation. After controlling for the potential endogenous relationship between venture capital and innovation, the results indicate that venture capital fosters innovation but mainly on a later stage.