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Smart finance for smart places to foster new venture creation

Erik Lehmann (), Nikolaus Seitz () and Katharine Wirsching ()
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Nikolaus Seitz: Augsburg University
Katharine Wirsching: Augsburg University

Economia e Politica Industriale: Journal of Industrial and Business Economics, 2017, vol. 44, issue 1, 51-75

Abstract: Abstract This study examines the role of smart finance within smart regions to generate smart growth. The smart growth idea has been established by the development of the 20–20 agenda of the European Commission as a regional and urban policy-prioritization framework. We follow this framework of smart growth and rely on the efficacy of the role played by entrepreneurship in driving innovation as being central to the issue. In particular, we argue that new venture creation is shaped by the interplay or ‘match’ between the smartness of a region and the provision of smart finance. Based on metropolitan areas in Germany, our empirical analysis strongly supports the complementary effect of measures of smart finance and the smartness of places in stimulating new venture creation.

Keywords: Smart finance; New venture creation; Smart places (search for similar items in EconPapers)
JEL-codes: G24 L26 R12 (search for similar items in EconPapers)
Date: 2017
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Economia e Politica Industriale: Journal of Industrial and Business Economics is currently edited by C. Cambini, M.G. Colombo, L. Piscitello, L. Rondi and A. Zanfei

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