Active Financial Intermediation: Evidence on the Role of Organizational Specialization and Human Capital
Laura Bottazzi (),
Marco Da Rin () and
Thomas Hellmann ()
No 266, Working Papers from IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University
Financial intermediaries can choose the extent to which they want to be active investors, providing valuable services like advice, support and corporate governance. We examine the determinants of the decision to become an active financial intermediary using a hand-collected dataset on European venture capital deals. We find organizational specialization to be a key driver. Venture firms which are independent and focused on venture capital alone get more involved with their companies. The human capital of venture partners is another key driver of active financial intermediation. Venture firms whose partners’ have prior business experience or a scientific education provide more support and governance. These results have implications for prevailing views of financial intermediation, which largely abstract from issues of specialization and human capital.
New Economics Papers: this item is included in nep-ent
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 500 Failed to connect to FTP server ftp.igier.uni-bocconi.it: No such host is known.
Working Paper: Active Financial Intermediation: Evidence on the Role of Organizational Specialization and Human Capital (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:igi:igierp:266
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in Working Papers from IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University via Rontgen, 1 - 20136 Milano (Italy).
Bibliographic data for series maintained by ().