The impact of concentration among venture capitalists: revisiting the determinants of venture capital
Data
2023-11-06
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Biblioteca da ESGTS
Resumo
This article analyzes the impact of the level of concentration among
Venture Capitalists (VCs) on the supply of venture capital (VC),
through the reduced form model for the equilibrium amount of
VC (using a simultaneous equation model on aggregated data from
15 European countries). It is shown that the level of concentration
among VCs has a positive effect on VC supply, so creating condi tions to increase the level of concentration can stimulate VC supply.
The findings reveal the importance of unemployment and personal
income rate on VC demand and the positive impact of stock market
capitalization on VC supply.