DSpace Repository

Comparative Advantages of Public Loan and Public Equity Schemes in Venture Capital Markets

Show simple item record

dc.creator Schertler, Andrea
dc.date 2002
dc.date.accessioned 2013-10-16T06:56:42Z
dc.date.available 2013-10-16T06:56:42Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17782
dc.identifier ppn:352215569
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17782
dc.description Using an agency framework, this paper examines advantages of offering venture capitalists a choice between public equity and loan schemes. Both schemes can be used to promote venture capital investments in hightechnology enterprises since they encourage inexperienced venture capitalists to accumulate experience. However, under both schemes, experienced venture capitalists save on management support. This paper shows that offering venture capitalists a choice between these two schemes can lead to a positive self-selection. Inexperienced venture capitalists choose public equity under which they have higher incentives to enter the market. Experienced venture capitalists choose public loans under which they have lower incentives to save on their management support.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1118
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject L14
dc.subject G28
dc.subject G24
dc.subject D82
dc.subject ddc:330
dc.subject public equity schemes
dc.subject public loan schemes
dc.subject venture capital
dc.subject Risikokapital
dc.subject Öffentliche Kapitalbeteiligung
dc.subject Öffentliche Kreditvergabe
dc.subject Subvention
dc.subject Unternehmensgründung
dc.subject Finanzierungstheorie
dc.subject Agency Theory
dc.subject Theorie
dc.subject Deutschland
dc.title Comparative Advantages of Public Loan and Public Equity Schemes in Venture Capital Markets
dc.type doc-type:workingPaper

Files in this item

Files Size Format View

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record

Search DSpace

Advanced Search


My Account