The interest of private equity and venture capital for the financing of entrepreneurship in emerging markets

Sandra Montchaud

International Journal of Economics and Business Research, 2014, vol. 7, issue 2, 220-240

Abstract: For several decades, the private equity (PE) and venture capital (VC) have been spreading on the international scale and have recently affected emerging countries. The objective of this research is to shed light on the interest of this financing mode for supporting entrepreneurship in these economies, particularly in Africa above all in reference to Morocco and South Africa. For this, we build an analytical framework related to this activity's structuring factors and intervention types. It appears that the development trajectory of PE and VC is based mainly on institutional and international factors which are complementary and self-reinforcing. On such a basis, this financing mode produces, at the micro level, both quantitative and qualitative impacts on the firms in formation, growth or transformation and also generates effects at the macro level. This dynamic could be improved, notably with regard to its ability to support small and medium-sized enterprises (SMEs).

Keywords: emerging markets; entrepreneurship; private equity; venture capital; structural factors; institutional trajectories; international trajectories; intervention types; quantitative impacts; qualitative impacts; micro impacts; macro impacts; emerging economies; entrepreneurial finance; entrepreneurial funding; Morocco; South Africa; financing modes; small and medium-sized enterprises; SMEs; SME funding; SME finance. (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=60033 (text/html)
Access to full text is restricted to subscribers.

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:ids:ijecbr:v:7:y:2014:i:2:p:220-240

Access Statistics for this article

More articles in International Journal of Economics and Business Research from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().