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Wiley InterScience | |||||
  German Economic ReviewVolume 8 Issue 1, Pages 64 - 88 Published Online: 22 Jan 2007 © 2010 Verein für Socialpolitik and Blackwell Publishing Ltd Published on behalf of Verein für Socialpolitik
Abstract | References | Full Text: HTML, PDF (Size: 133K) | Related Articles | Citation Tracking  Knowledge Capital and Venture Capital Investments: New Evidence from European Panel Data Copyright © Verein für Socialpolitik and Blackwell Publishing Ltd. 2007 KEYWORDS
G24 •
G32 KEYWORDS VC investments • knowledge capital • Western Europe • panel data ABSTRACTAbstract. Countries with a high amount of knowledge capital are likely to have higher volumes of venture capital (VC) investments because more researchers come up with innovative business ideas that require venture capital finance. Using panel data techniques, the paper finds evidence that VC investments depend strongly on the countries' knowledge capital measured by the number of patents, or the number of R&D researchers, or gross domestic expenditures on R&D. In addition, the paper analyzes whether government-financed knowledge capital fulfills a special role for VC investments. It finds only weak evidence that VC investments depend, with a delay of several years, on government-financed knowledge capital. | 
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