Financing the New Economy: Financial Institutions and Corporate Governance

Colin Mayer

No DP2001-04, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper examines the financial sector preconditions for the successful development of a high technology sector. It argues that there is a close relation between types of activities undertaken in different countries and their institutional structures. A distinguishing characteristic of the financing of high technology firms is their evolving pattern of control by different investor groups. While stock markets are an important component of the development of the most successful firms, they are not the most common. Regulation is a significant influence on institutional structure.

Keywords: Corporate governance; Finance; Technology; Venture capital (search for similar items in EconPapers)
Date: 2001
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