Venture’s economic impact in Australia

Douglas Cumming and Sofia Johan

The Journal of Technology Transfer, 2016, vol. 41, issue 1, 25-59

Abstract: We empirically compare the contributions of venture capital (VC) and private equity backed firms, including those backed by government subsidized innovation investment funds (IIFs), in the Australian economy by analyzing employment, R&D, patents, time to IPO, and market capitalization from market inception to August 2012. Overall, the data highlight a central role for VC and IIF investment in facilitating R&D, innovation, and economic growth. Our IIF findings highlight the success of government sponsorship of VC under the Australian program design, which is sharply in contrast with the lack of success of government venture programs in other countries. Copyright Springer Science+Business Media New York 2016

Keywords: Venture capital; Private equity; Patents; R&D; Market capitalization; Government policy; G24; G28; O16; O30; O38 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
http://hdl.handle.net/10.1007/s10961-014-9378-3 (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:kap:jtecht:v:41:y:2016:i:1:p:25-59

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/10961/PS2

DOI: 10.1007/s10961-014-9378-3

Access Statistics for this article

The Journal of Technology Transfer is currently edited by Albert N. Link, Donald S. Siegel, Barry Bozeman and Simon Mosey

More articles in The Journal of Technology Transfer from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().