The attractiveness of central eastern European countries for venture capital and private equity investors

Alexander P. Groh (), Heinrich Liechtenstein and Karsten Lieser
Additional contact information
Alexander P. Groh: IESE Business School, Postal: Research Division, Av Pearson 21, 08034 Barcelona, SPAIN
Heinrich Liechtenstein: IESE Business School, Postal: Research Division, Av Pearson 21, 08034 Barcelona, SPAIN
Karsten Lieser: Strategic Capital Management

No D/677, IESE Research Papers from IESE Business School

Abstract: We address the attractiveness of Central Eastern European countries for VC/PE investors by the construction of a composite index. For the index composition we refer to the results of numerous prior research papers that investigate relevant parameters determining entrepreneurial activity and/or the engagements of institutional investors. We aggregate the index via five different methods and receive country rankings that vary only slightly, signaling a robust index calculation. We clearly identify six tier groups of attractiveness for all of our sample countries. We compare our index with the actual fundraising activities in the particular countries and reveal a reasonable correlation of both figures. The results highlight the strengths and weaknesses of the particular economies and provide guidelines for political improvements and institutional investors' country allocations.

Keywords: Venture capital; Private equity; Central Eastern Europe; Economic transition (search for similar items in EconPapers)
JEL-codes: G23 G24 M13 O16 P34 P52 (search for similar items in EconPapers)
Pages: 64 pages
Date: 2007-02-19
New Economics Papers: this item is included in nep-eec, nep-ent and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.iese.edu/research/pdfs/DI-0677-E.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ebg:iesewp:d-0677

Access Statistics for this paper

More papers in IESE Research Papers from IESE Business School IESE Business School, Av Pearson 21, 08034 Barcelona, SPAIN. Contact information at EDIRC.
Bibliographic data for series maintained by Noelia Romero ().