Public policy for start-up entrepreneurship with venture capital and bank finance

Christian Keuschnigg; Søren Bo Nielsen

Public policy for start-up entrepreneurship with venture capital and bank finance

Christian Keuschnigg, Søren Bo Nielsen

Department of Economics

Research output: Working paper › Research

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Abstract

This paper proposes and analyses a model of start-up investment. Innovative entrepreneursare commercially inexperienced and can benefit from venture capital support. Only part ofthem succeed in matching with a venture capitalist while the rest must resort to standard bankfinance. We consider a number of policies to promote entrepreneurship and venture capitalbacked innovation.JEL Classification: D82, G24, G28, H24.Keywords: venture capital bank finance, matching, moral hazard, public policy.

Original language	English
Place of Publication	København
Number of pages	38
Publication status	Published - 2003

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cesifo working paper no. 850Final published version, 384 KBLicence: CC BY-NC-ND

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