The effect of venture capital on innovation strategies
By: Marco Da Rin, María Fabiana Penas.
Contributors: Penas, María Fabiana.; National Bureau of Economic Research.
Series: NBER working paper series -- working paper 13636; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13636.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "We examine a unique dataset of Dutch companies, some of which have received venture financing.  The data include detailed information on innovation activities and other company characteristics.  We analyse the role of venture finance in influencing innovation strategies.  We find that venture capitalists push portfolio companies towards building absorptive capacity and towards more permanent in-house R&D efforts.  By contrast, we find that public funding relaxes financial constraints, but does not lead to a build-up of absorptive capacity.  Our results thus highlight the special role of venture capital in shaping companies' innovation strategies"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 12/7/2007.

Includes bibliographical references.

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