Journal title ECONOMIA E POLITICA INDUSTRIALE
Author/s Fabio Bertoni, Annalisa Croce, Diego D'Adda
Publishing Year 2011 Issue 2011/4 Language Italian
Pages 33 P. 35-67 File size 240 KB
DOI is like a bar code for intellectual property: to have more infomation click here
Below, you can see the article first page
If you want to buy this article in PDF format, you can do it, following the instructions to buy download credits
FrancoAngeli is member of Publishers International Linking Association, Inc (PILA), a not-for-profit association which run the CrossRef service enabling links to and from online scholarly content.
The aim of the paper is to conduct an empirical analysis of the impact of VC (venture capital) funding on the innovation output of new technology-based firms in terms of their patenting activity. In particular, we compare the patenting rates of investee and non-investee high-tech firms. To investigate whether VC investments spur patenting activity, we consider a unique longitudinal dataset composed of one hundred and ninety- one Italian firms operating in high-tech manufacturing industries. We estimate different econometric models on panel data, controlling for factors beyond VC that could influence a firm’s patenting behaviour, such as the founders’ human capital and the use of other financing sources. The results of the analysis show that VC investments have a positive impact on successive patenting activity and that prior to receiving VC, the patenting propensity of the investee firms was no higher than other firms.
Keywords: Venture capital, patenting, new technology based firms
Jel codes: D92, G24, L21
Fabio Bertoni, Annalisa Croce, Diego D'Adda, Venture capital e attività brevettuale delle giovani imprese italiane ad alta tecnologia in "ECONOMIA E POLITICA INDUSTRIALE " 4/2011, pp 35-67, DOI: 10.3280/POLI2011-004002