Click here to download

Public support to venture capital: lessons from the crisis
Author/s: Devis Geron, Luciano Greco 
Year:  2012 Issue: Language: Italian 
Pages:  28 Pg. 97-124 FullText PDF:  627 KB
DOI:  10.3280/ES2012-003008
(DOI is like a bar code for intellectual property: to have more infomation:  clicca qui   and here 

The paper aims at analyzing the evolution, over the last years of crisis, of public intervention supporting equity investments through innovative partnerships with private investors. The need for public intervention stems from capital market failures, particularly at the venture capital stage, worsened by the recent crisis notably for young innovative small and medium-sized enterprises, which are a potential driver of development and economic growth. After outlining the reference framework, the paper first describes the international context and then focuses on the situation in Italy and the Veneto region. The analyzed empirical facts shed light on the importance of shaping the normative and cultural environment, besides having direct public intervention through equity investment. Moreover public intervention in the medium-to-long run needs to help develop capital markets, and avoid excessively straining public finances.
Keywords: Public Support to Venture Capital, Public-Private Partnerships, Market Failures, Economic Crisis
Jel Code: G28; L32; M13

Devis Geron, Luciano Greco, Public support to venture capital: lessons from the crisis in "ECONOMIA E SOCIETÀ REGIONALE " 3/2012, pp. 97-124, DOI:10.3280/ES2012-003008


FrancoAngeli is a member of Publishers International Linking Association a not for profit orgasnization wich runs the CrossRef service, enabing links to and from online scholarly content