Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital

Christian Keuschnigg, Søren Bo Nielsen

Publikation: Working paperForskning

7 Downloads (Pure)

Resumé

In recent years, venture capital has become an important source for nancing young entrepreneurial rms. Given the apparently more innovative nature and extra value added of venture capital backed rms compared to other firms, policy makers have taken an increasing interest in an active venture capital industry. We explore how selected policy instruments determine the incentives of individuals to start up new rms and of venture capitalists to nance and advise them, and how policy thereby influences the size and nature of the industry and how it aspects aggregate welfare. We examine the impact of wage and corporate income taxes as well as capital gains taxes and start-up capital subsidies on the volume and quality of venture capital backed entrepreneurship.
OriginalsprogEngelsk
Udgivelses stedFrederiksberg
UdgiverDepartment of Economics. Copenhagen Business School
Antal sider40
StatusUdgivet - 2006
NavnWorking Paper / Department of Economics. Copenhagen Business School
Nummer15-06

Emneord

  • Entrepreneurship
  • Venture capital
  • Double moral hazard
  • Taxes
  • Subsidies

Citer dette

Keuschnigg, C., & Nielsen, S. B. (2006). Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital. Frederiksberg: Department of Economics. Copenhagen Business School. Working Paper / Department of Economics. Copenhagen Business School, Nr. 15-06
Keuschnigg, Christian ; Nielsen, Søren Bo. / Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital. Frederiksberg : Department of Economics. Copenhagen Business School, 2006. (Working Paper / Department of Economics. Copenhagen Business School; Nr. 15-06).
@techreport{158d2dcc51c444419407fd9062238c19,
title = "Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital",
abstract = "In recent years, venture capital has become an important source for nancing young entrepreneurial rms. Given the apparently more innovative nature and extra value added of venture capital backed rms compared to other firms, policy makers have taken an increasing interest in an active venture capital industry. We explore how selected policy instruments determine the incentives of individuals to start up new rms and of venture capitalists to nance and advise them, and how policy thereby influences the size and nature of the industry and how it aspects aggregate welfare. We examine the impact of wage and corporate income taxes as well as capital gains taxes and start-up capital subsidies on the volume and quality of venture capital backed entrepreneurship.",
keywords = "Entrepreneurship, Venture capital, Double moral hazard, Taxes, Subsidies, Entrepreneurship, Venture capital, Double moral hazard, Taxes, Subsidies",
author = "Christian Keuschnigg and Nielsen, {S{\o}ren Bo}",
year = "2006",
language = "English",
series = "Working Paper / Department of Economics. Copenhagen Business School",
publisher = "Department of Economics. Copenhagen Business School",
number = "15-06",
type = "WorkingPaper",
institution = "Department of Economics. Copenhagen Business School",

}

Keuschnigg, C & Nielsen, SB 2006 'Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital' Department of Economics. Copenhagen Business School, Frederiksberg.

Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital. / Keuschnigg, Christian; Nielsen, Søren Bo.

Frederiksberg : Department of Economics. Copenhagen Business School, 2006.

Publikation: Working paperForskning

TY - UNPB

T1 - Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital

AU - Keuschnigg, Christian

AU - Nielsen, Søren Bo

PY - 2006

Y1 - 2006

N2 - In recent years, venture capital has become an important source for nancing young entrepreneurial rms. Given the apparently more innovative nature and extra value added of venture capital backed rms compared to other firms, policy makers have taken an increasing interest in an active venture capital industry. We explore how selected policy instruments determine the incentives of individuals to start up new rms and of venture capitalists to nance and advise them, and how policy thereby influences the size and nature of the industry and how it aspects aggregate welfare. We examine the impact of wage and corporate income taxes as well as capital gains taxes and start-up capital subsidies on the volume and quality of venture capital backed entrepreneurship.

AB - In recent years, venture capital has become an important source for nancing young entrepreneurial rms. Given the apparently more innovative nature and extra value added of venture capital backed rms compared to other firms, policy makers have taken an increasing interest in an active venture capital industry. We explore how selected policy instruments determine the incentives of individuals to start up new rms and of venture capitalists to nance and advise them, and how policy thereby influences the size and nature of the industry and how it aspects aggregate welfare. We examine the impact of wage and corporate income taxes as well as capital gains taxes and start-up capital subsidies on the volume and quality of venture capital backed entrepreneurship.

KW - Entrepreneurship

KW - Venture capital

KW - Double moral hazard

KW - Taxes

KW - Subsidies

KW - Entrepreneurship

KW - Venture capital

KW - Double moral hazard

KW - Taxes

KW - Subsidies

M3 - Working paper

T3 - Working Paper / Department of Economics. Copenhagen Business School

BT - Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital

PB - Department of Economics. Copenhagen Business School

CY - Frederiksberg

ER -

Keuschnigg C, Nielsen SB. Public Policy, Start-up Entrepreneurship, and the Market for Venture Capital. Frederiksberg: Department of Economics. Copenhagen Business School. 2006.