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Does venture capital really foster innovation?

Ana Faria () and Natália Barbosa ()

No 03/2013, NIPE Working Papers from NIPE - Universidade do Minho

Abstract: Using panel data of 17 European Union countries, we find robust empirical support for a positive impact of venture capital on innovation. After controlling for the potential endogenous relationship between venture capital and innovation, the results indicate that venture capital fosters innovation but mainly on a later stage.

Keywords: venture capital; innovation; dynamic panel data (search for similar items in EconPapers)
JEL-codes: O31 G30 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-cse, nep-ent, nep-eur, nep-ino, nep-knm and nep-sbm
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