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Kieler Studien-Kiel Studies: Dynamic Efficiency and Path Dependencies in Venture Capital Markets by Andrea Schertler (2003, Hardcover)
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- Buy it nowDynamic Efficiency and Path Dependencies in Venture Capital Markets by Schertler
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About this product
Product Identifiers
PublisherSpringer Berlin / Heidelberg
ISBN-103540407103
ISBN-139783540407102
eBay Product ID (ePID)6064562
Product Key Features
Number of PagesXviii, 192 Pages
LanguageEnglish
Publication NameDynamic Efficiency and Path Dependencies in Venture Capital Markets
SubjectGame Theory, Corporate Finance / Venture Capital, Finance / General, Economics / Macroeconomics, Money & Monetary Policy
Publication Year2003
TypeTextbook
Subject AreaMathematics, Business & Economics
AuthorAndrea Schertler
SeriesKieler Studien-Kiel Studies
FormatHardcover
Dimensions
Item Weight37.4 Oz
Item Length9.3 in
Item Width6.1 in
Additional Product Features
Intended AudienceScholarly & Professional
LCCN2004-298447
Dewey Edition22
Series Volume Number327
Number of Volumes1 vol.
IllustratedYes
Dewey Decimal332/.04154
Table Of ContentMotivation.- Venture Capital Finance in the United States and in Germany.- Dynamic Efficiency of Venture Capital Markets.- The Effects of Public Subsidies on Path Dependencies in Venture Capital Markets.- Concluding Remarks.
SynopsisThis book offers a new explanation why venture capital in investments differ substantially between countries. Recent literature has attributed these differences to differences in the financial architecture and tax regulations. By contrast, this book shows by using simulations of a general equilibrium model that interactions between venture capitalists' reputation building and experience accumulation lead to different levels of venture capital investments. The interactions taking place in venture capital markets can result in inefficiencies in experience accumulation. The study argues that government subsidies in such a situation may increase venture capitalists' experience accumulation. However, using an agency model, this study shows that subsidies can have negative effects since they reduce venture capitalists' incentives to support the management teams.
LC Classification NumberHB172.5
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