Resource title

Sources of Funds and Specialization Patterns of European Venture Capital Investments

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Resource description

This paper analyses the link between venture capitalists? sources of funds, such as banks and pension funds, and the specialization pattern of venture capital investments in particular industries and particular stages of enterprises? development. Based on a panel data set of Western European countries, the results of the analysis show that sources of funds and investment specialization patterns are linked. For example, the specialization in the early stage of enterprises? development depends positively on the importance of pension funds and negatively on the importance of banks as sources of funds. These results reject models that assume independence of sources of funds and investment patterns.

Resource author

Andrea Schertler

Resource publisher

Resource publish date

Resource language

deu

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17744

Resource license

Adapt according to the presented license agreement and reference the original author.