The Impact of Venture Capital on Business Dynamics in Europe and the United States
(2015) EKHM51 20151Department of Economic History
- Abstract
- The venture capital industry is seen to be favourable for an economy’s business dynamics. Using a panel of 23 countries over 2004 – 2012, the thesis explores the linkage of venture capital with firm births, employment in newly born firms and survival rates. The aggregate approach allows considering the implicit multiplier effect of VC. The thesis proposes a reconsideration of venture capital for economic policy. Venture capital appears not to drive firm births and the effect on employment is rather weak. However, a strong linkage with firm survival in a country is found. This indicates that venture capital is rather important for late stage finance and the abatement of failures of young firms than for finance in the early stage and... (More)
- The venture capital industry is seen to be favourable for an economy’s business dynamics. Using a panel of 23 countries over 2004 – 2012, the thesis explores the linkage of venture capital with firm births, employment in newly born firms and survival rates. The aggregate approach allows considering the implicit multiplier effect of VC. The thesis proposes a reconsideration of venture capital for economic policy. Venture capital appears not to drive firm births and the effect on employment is rather weak. However, a strong linkage with firm survival in a country is found. This indicates that venture capital is rather important for late stage finance and the abatement of failures of young firms than for finance in the early stage and business creation. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/5473868
- author
- Kienlein, Tobias LU
- supervisor
-
- Håkan Lobell LU
- organization
- course
- EKHM51 20151
- year
- 2015
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Venture capital, business dynamics, multiplier effect, firm birth, employment, firm survival
- language
- English
- id
- 5473868
- date added to LUP
- 2015-06-25 12:34:17
- date last changed
- 2015-06-25 12:34:17
@misc{5473868, abstract = {{The venture capital industry is seen to be favourable for an economy’s business dynamics. Using a panel of 23 countries over 2004 – 2012, the thesis explores the linkage of venture capital with firm births, employment in newly born firms and survival rates. The aggregate approach allows considering the implicit multiplier effect of VC. The thesis proposes a reconsideration of venture capital for economic policy. Venture capital appears not to drive firm births and the effect on employment is rather weak. However, a strong linkage with firm survival in a country is found. This indicates that venture capital is rather important for late stage finance and the abatement of failures of young firms than for finance in the early stage and business creation.}}, author = {{Kienlein, Tobias}}, language = {{eng}}, note = {{Student Paper}}, title = {{The Impact of Venture Capital on Business Dynamics in Europe and the United States}}, year = {{2015}}, }