Self-regulation in European venture capital and private equity markets

Jose Marti and Marina Balboa

International Journal of Entrepreneurship and Innovation Management, 2006, vol. 6, issue 4/5, 395-411

Abstract: This paper proposes a conceptual framework based on both environmental and industrial factors that could explain, in aggregated terms, capital flows within venture capital and private equity markets. The interaction between supply and demand is directly affected by three conditions: the size of the domestic market, the accessibility of a stock market for growing companies, and the entrepreneurial environment. Evidence is found for the significant impact of all three conditions on the aggregated commitments to venture capital and private equity organisations in a panel of 16 European countries. Prior to its inclusion in our model, we find evidence of the impact that several instruments related to the entrepreneurial environment exert on investments.

Keywords: fundraising; private equity; venture capital; self-regulation; Europe; capital flows; entrepreneurship; innovation management. (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijeima:v:6:y:2006:i:4/5:p:395-411

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