In Which Regions Do Governmental, Independent, and Corporate Venture Capital Firms Invest? An Empirical Investigation across 402 German Regions

Christian Masiak, Christian Fisch () and Joern Block
Additional contact information
Christian Masiak: Trier University
Christian Fisch: Trier University

A chapter in Contemporary Developments in Entrepreneurial Finance, 2020, pp 201-227 from Springer

Abstract: Abstract We analyze the distribution of venture capital (VC) investments across German regions and explore the geographical determinants of these investments. So far, little is known about the regional determinants of governmental (GVC), independent (IVC), and corporate (CVC) VC firms and about whether these types of VC firms invest in different regions. Combining a dataset of 402 German districts, our regressions show that regions with a higher supply of human capital and knowledge creators attract a significantly higher number of GVC investments. Moreover, we find a significant difference in economically weaker regions but do not find a metropolitan bias. Hence, GVC firms do not invest more frequently in rural regions per se and do not prevent regional disparities more often than other types of VC firms. The implications of these findings for high-tech firms and regional policy are discussed.

Keywords: Corporate venture capital; Governmental venture capital; Independent venture capital; Localization; Region; Venture capital (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:fgfchp:978-3-030-17612-9_8

Ordering information: This item can be ordered from
http://www.springer.com/9783030176129

DOI: 10.1007/978-3-030-17612-9_8

Access Statistics for this chapter

More chapters in FGF Studies in Small Business and Entrepreneurship from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().