The impact of concentration among venture capitalists: revisiting the determinants of venture capital

被引：5

作者：

Santana Felix, Elisabete Gomes ^{[1
]}

Nunes, Jose Carlos ^{[2
]}

Pires, Cesaltina Pacheco ^{[1
]}

机构：

[1] Univ Evora, Dept Gestao, CEFAGE UE, Larg Colegiais 2, P-7000803 Evora, Portugal

[2] Inst Politecn Santarem, Escola Super Gestao & Tecnol Santarem, Santarem, Portugal

来源：

VENTURE CAPITAL | 2023年 / 25卷 / 04期

关键词：

Venture capital determinants; Europe; Herfindahl; Hirschman index; improvement-driven opportunity entrepreneurial activity; simultaneous equation model; INVESTMENT; ENTRY; TAXES;

D O I：

10.1080/13691066.2022.2147876

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

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 conditions 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.

引用

页码：457 / 486

页数：30

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