Admati, A. R., & Pfleiderer, P. (1994). Robust financial contracting and the role of venture capitalists. The Journal of Finance, 49, 371–402. https://doi.org/10.1111/j.1540-6261.1994.tb05146.x .
- Alemany, L., & MartÃ, J. (2005). Unbiased estimation of economic impact of venture capital backed firms. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.673341 .
Paper not yet in RePEc: Add citation now
- Alférez, Ã. (2018). Informe de actividad Venture Capital & Private Equity en España. Madrid.
Paper not yet in RePEc: Add citation now
Alperovych, Y., Hübner, G., & Lobet, F. (2015). How does governmental versus private venture capital backing affect a firm’s efficiency? Evidence from Belgium. Journal of Business Venturing, 30, 508–525. https://doi.org/10.1016/j.jbusvent.2014.11.001 .
Amit, R., Brander, J., & Zott, C. (1998). Why do venture capital firms exist? Theory and Canadian evidence. Journal of Business Venturing, 13, 441–466. https://doi.org/10.1016/S0883-9026(97)00061-X .
Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58, 277–297. https://doi.org/10.2307/2297968 .
Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68, 29–51. https://doi.org/10.1016/0304-4076(94)01642-D .
Arthurs, J. D., & Busenitz, L. W. (2006). Dynamic capabilities and venture performance: the effects of venture capitalists. Journal of Business Venturing, 21, 195–215. https://doi.org/10.1016/j.jbusvent.2005.04.004 .
- Balboa, M., & MartÃ, J. (2004). From venture capital to private equity. The Journal of Private Equity, 7, 54–63. https://doi.org/10.3905/jpe.2004.391049 .
Paper not yet in RePEc: Add citation now
Balboa, M., & MartÃ, J. (2007). Factors that determine the reputation of private equity managers in developing markets. Journal of Business Venturing, 22, 453–480. https://doi.org/10.1016/j.jbusvent.2006.05.004 .
Balboa, M., MartÃ, J., & Tresierra-Tanaka, Ã. (2017). Are firms accessing venture funding more financially constrained? New evidence from capital structure adjustments. The European Journal of Finance, 23, 243–265. https://doi.org/10.1080/1351847X.2016.1151803 .
Balboa, M., MartÃ, J., & Zieling, N. (2007). Is the Spanish public sector effective in backing venture capital? In G. N. Gregoriou, M. Kooli, & R. Kraeussl (Eds.), Venture capital in Europe (pp. 115–128). Amsterdam: Elsevier B.V. https://doi.org/10.1016/B978-075068259-6.50012-9 .
- Balboa, M., MartÃ, J., & Zieling, N. (2011). Impact of funding and value added on Spanish venture capital-backed firms. Innovation: The European Journal of Social Science Research, 24, 449–466. https://doi.org/10.1080/13511610.2011.628827 .
Paper not yet in RePEc: Add citation now
- Basel Committee on Banking Supervision. (2013). The liquidity coverage ratio and liquidity risk monitoring tools. In Basel.
Paper not yet in RePEc: Add citation now
- Beck, T., Demirgüç-kunt, A., & Martinez, M. S. (2008). Bank financing for SMEs around the world. World Bank Policy Res. Work. Pap. n., 4785, 1–43.
Paper not yet in RePEc: Add citation now
Bergemann, D., & Hege, U. (1998). Venture capital financing, moral hazard, and learning. Journal of Banking & Finance, 22, 703–735. https://doi.org/10.1016/S0378-4266(98)00017-X .
Berger, A. N., & Udell, G. F. (1998). The economics of small business finance: the roles of private equity and debt markets in the financial growth cycle. Journal of Banking & Finance, 22, 613–673. https://doi.org/10.1016/S0378-4266(98)00038-7 .
Bertoni, F., & Tykvová, T. (2015). Does governmental venture capital spur invention and innovation? Evidence from young European biotech companies. Research Policy, 44, 925–935. https://doi.org/10.1016/j.respol.2015.02.002 .
Bertoni, F., Colombo, M. G., & Croce, A. (2010). The effect of venture capital financing on the sensitivity to cash flow of firm’s investments. European Financial Management, 16, 528–551. https://doi.org/10.1111/j.1468-036X.2008.00463.x .
Bertoni, F., Colombo, M. G., & Grilli, L. (2011). Venture capital financing and the growth of high-tech start-ups: disentangling treatment from selection effects. Research Policy, 40, 1028–1043. https://doi.org/10.1016/j.respol.2011.03.008 .
Bertoni, F., Ferrer, M. A., & MartÃ, J. (2013). The different roles played by venture capital and private equity investors on the investment activity of their portfolio firms. Small Business Economics, 40, 607–633. https://doi.org/10.1007/s11187-011-9384-x .
- Binks, M. R., Ennew, C. T., & Reed, G. V. (1992). Information asymmetries and the provision of finance to small firms. International Small Business Journal, 11, 35–46. https://doi.org/10.1177/026624269201100103 .
Paper not yet in RePEc: Add citation now
Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87, 115–143. https://doi.org/10.1016/S0304-4076(98)00009-8 .
Brander, J. A., Du, Q., & Hellmann, T. F. (2015). The effects of government-sponsored venture capital: international evidence. Review of Finance, 19, 571–618. https://doi.org/10.1093/rof/rfu009 .
- Brau, J. C., Brown, R. A., & Osteryoung, J. S. (2004). Do venture capitalists add value to small manufacturing firms? An empirical analysis of venture and nonventure capital backed. Journal of Small Business Management, 42, 78–92. https://doi.org/10.1111/j.1540-627X.2004.00098.x .
Paper not yet in RePEc: Add citation now
Brav, O. (2009). Access to capital, capital structure, and the funding of the firm. The Journal of Finance, 64, 263–308. https://doi.org/10.1111/j.1540-6261.2008.01434.x .
Brown, J. D., & Earle, J. S. (2017). Finance and growth at the firm level: evidence from SBA loans. The Journal of Finance, 72, 1039–1080. https://doi.org/10.1111/jofi.12492 .
Bruton, G. D., Fried, V. H., & Manigart, S. (2005). Institutional influences on the worldwide expansion of venture capital. Entrepreneurship Theory and Practice, 29, 737–760. https://doi.org/10.1111/j.1540-6520.2005.00106.x .
Carpenter, R. E., & Petersen, B. C. (2002). Is the growth of small firms constrained by internal finance? The Review of Economics and Statistics, 84, 298–309. https://doi.org/10.1162/003465302317411541 .
Chemmanur, T. J., Krishnan, K., & Nandy, D. K. (2011). How does venture capital financing improve efficiency in private firms? A look beneath the surface. Review of Financial Studies, 24, 4037–4090. https://doi.org/10.1093/rfs/hhr096 .
Colombo, M. G., Cumming, D. J., & Vismara, S. (2016). Governmental venture capital for innovative young firms. The Journal of Technology Transfer, 41, 10–24. https://doi.org/10.1007/s10961-014-9380-9 .
- Conti, A., Dass, N., Graham, S.J.H., (2016). Venture capital investment strategies under financing constraints: evidence from the 2008 financial crisis (No. 2781674), Working Paper Series. doi: https://doi.org/10.2139/ssrn.2781674 .
Paper not yet in RePEc: Add citation now
Cornelli, F., & Yosha, O. (2003). Stage financing and there role of convertible securities. The Review of Economic Studies, 70, 1–32. https://doi.org/10.1111/1467-937X.00235 .
- Cowling, M., Liu, W., & Ledger, A. (2012). Small business financing in the UK before and during the current financial crisis. International Small Business Journal, 30, 778–800. https://doi.org/10.1177/0266242611435516 .
Paper not yet in RePEc: Add citation now
Criscuolo, C., Gal, P.N., Menon, C., (2014). The dynamics of employment growth: new evidence from 18 countries (No. 14), Science, Technology and Industry Policy Papers. Paris. doi: https://doi.org/10.1787/5jz417hj6hg6-en .
- Croce, A., & MartÃ, J. (2016). Productivity growth in private-equity-backed family firms. Entrepreneurship Theory and Practice, 40, 657–683. https://doi.org/10.1111/etap.12138 .
Paper not yet in RePEc: Add citation now
Croce, A., MartÃ, J., & Murtinu, S. (2013). The impact of venture capital on the productivity growth of European entrepreneurial firms: “screening†or “value added†effect? Journal of Business Venturing, 28, 489–510. https://doi.org/10.1016/j.jbusvent.2012.06.001 .
Cumming, D. J., & MacIntosh, J. G. (2006). Crowding out private equity: Canadian evidence. Journal of Business Venturing, 21, 569–609. https://doi.org/10.1016/j.jbusvent.2005.06.002 .
Cumming, D. J., & MacIntosh, J. G. (2007). Mutual funds that invest in private equity? An analysis of labour-sponsored investment funds. Cambridge Journal of Economics, 31, 445–487. https://doi.org/10.1093/cje/bel041 .
Cumming, D. J., Grilli, L., & Murtinu, S. (2017). Governmental and independent venture capital investments in Europe: a firm-level performance analysis. Journal of Corporate Finance, 42, 439–459. https://doi.org/10.1016/j.jcorpfin.2014.10.016 .
- Cumming, D. J., Sapienza, H. J., Siegel, D. S., & Wright, M. (2009). International entrepreneurship: managerial and policy implications. Strategic Entrepreneurship Journal, 3, 283–296. https://doi.org/10.1002/sej .
Paper not yet in RePEc: Add citation now
Davila, A., Foster, G., & Gupta, M. (2003). Venture capital financing and the growth of startup firms. Journal of Business Venturing, 18, 689–708. https://doi.org/10.1016/S0883-9026(02)00127-1 .
- Davis, A. (2011). Beyond the banks. Innovative ways to finance Britain’s small businesses. London.
Paper not yet in RePEc: Add citation now
Engel, D., & Keilbach, M. (2007). Firm-level implications of early stage venture capital investment—an empirical investigation. Journal of Empirical Finance, 14, 150–167. https://doi.org/10.1016/j.jempfin.2006.03.004 .
Engel, D., & Stiebale, J. (2014). Private equity, investment and financial constraints: firm-level evidence for France and the United Kingdom. Small Business Economics, 43, 197–212. https://doi.org/10.1007/s11187-013-9530-8 .
- European Commission, 2009. Economic crisis in Europe: causes, consequences and responses, European economy. Office for Official Publications of the European Communities, Luxembourg. doi: https://doi.org/10.1371/journal.pone.0016233 .
Paper not yet in RePEc: Add citation now
- Eurostat, 2016. Real GDP growth rate—volume [WWW document]. URL http://ec.europa.eu/eurostat/tgm/table.do?tab=table&init=1&language=en&pcode=tec00115&plugin=1 (accessed 7.16.16).
Paper not yet in RePEc: Add citation now
Evans, D. S. (1987). The relationship between firm growth, size, and age: estimates for 100 manufacturing industries. The Journal of Industrial Economics, 35, 567–581.
Fama, E. F., & Jensen, M. C. (1983). Agency problems and residual claims. Journal of Law and Economics, 26, 327–349. https://doi.org/10.1086/467038 .
Gompers, P. A. (1995). Optimal investment, monitoring, and the staging of venture capital. The Journal of Finance, 50, 1461–1489. https://doi.org/10.1111/j.1540-6261.1995.tb05185.x .
Gorman, M., & Sahlman, W. A. (1989). What do venture capitalists do? Journal of Business Venturing, 4, 231–248. https://doi.org/10.1016/0883-9026(89)90014-1 .
Grilli, L., & Murtinu, S. (2014). Government, venture capital and the growth of European high-tech entrepreneurial firms. Research Policy, 43, 1523–1543. https://doi.org/10.1016/j.respol.2014.04.002 .
- Guerini, M., & Quas, A. (2015). Governmental venture capital in Europe: screening and certification. Journal of Business Venturing, 31, 175–195. https://doi.org/10.1016/j.jbusvent.2015.10.001 .
Paper not yet in RePEc: Add citation now
- Hellman, T. (1998). The allocation of control rights in venture capital contracts. The Rand Journal of Economics, 29, 57–76. https://doi.org/10.2307/2555816 .
Paper not yet in RePEc: Add citation now
Hellmann, T., & Puri, M. (2000). The interaction between product market and financing strategy: the role of venture capital. Review of Financial Studies, 13, 959–984. https://doi.org/10.1093/rfs/13.4.959 .
Hochberg, Y. V., Ljungqvist, A., & Lu, Y. (2007). Whom you know matters: venture capital networks and investment performance. The Journal of Finance, 62, 251–301. https://doi.org/10.1111/j.1540-6261.2007.01207.x .
Hsu, D. H. (2006). Venture capitalists and cooperative start-up commercialization strategy. Management Science, 52, 204–219. https://doi.org/10.1287/mnsc.1050.0480 .
- Instituto Nacional de EstadÃstica, (2016). Instituto Nacional de EstadÃstica [WWW document]. URL http://www.ine.es/dyngs/INEbase/es/categoria.htm?c =Estadistica_P&cid=1254735976595 (accessed 7.15.16).
Paper not yet in RePEc: Add citation now
- Invest Europe, (2016). European private equity activity data 2007-2015 [WWW document]. 6 May 2016. URL https://www.investeurope.eu/research/invest-europe-publications/#i (accessed 11.14.16).
Paper not yet in RePEc: Add citation now
Jääskeläinen, M., Maula, M., & Seppä, T. (2006). Allocation of attention to portfolio companies and the performance of venture capital firms. Entrepreneurship Theory and Practice, 30, 185–206. https://doi.org/10.1111/j.1540-6520.2006.00117.x .
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: managerial behavior , agency costs and ownership structure. Journal of Financial Economics, 3, 305–360. https://doi.org/10.1016/0304-405X(76)90026-X .
Kanniainen, V., & Keuschnigg, C. (2004). Start-up investment with scarce venture capital support. Journal of Banking & Finance, 28, 1935–1959. https://doi.org/10.1016/j.jbankfin.2003.07.005 .
- Kaplan, S., & Strömberg, P. (2003). Financial contracting theory meets the real world: evidence from venture capital contracts. The Review of Economic Studies, 70, 281–315. https://doi.org/10.2307/3648635 .
Paper not yet in RePEc: Add citation now
Knockaert, M., & Vanacker, T. (2013). The association between venture capitalists’ selection and value adding behavior: evidence from early stage high tech venture capitalists. Small Business Economics, 40, 493–509. https://doi.org/10.1007/s11187-011-9378-8 .
Kortum, S., & Lerner, J. (2000). Assessing the contribution of venture capital to innovation. The Rand Journal of Economics, 31, 674–692. https://doi.org/10.2307/2696354 .
Leleux, B., & Surlemont, B. (2003). Public versus private venture capital: seeding or crowding out? A pan-European analysis. Journal of Business Venturing, 18, 81–104. https://doi.org/10.1016/S0883-9026(01)00078-7 .
Lerner, J. (1995). Venture capitalists and the oversight of private firms. The Journal of Finance, 50, 301–318. https://doi.org/10.1111/j.1540-6261.1995.tb05175.x .
Lerner, J. (1999). The government as venture capitalist: the long-run impact of the SBIR program. Journal of Business, 72, 285–318. https://doi.org/10.1086/209616 .
Lerner, J. (2002). When bureaucrats meet entrepreneurs: the design of effective “public venture capital†programmes. The Econometrics Journal, 112, F73–F84. https://doi.org/10.1111/1468-0297.00684 .
Luukkonen, T., Deschryvere, M., & Bertoni, F. (2013). The value added by government venture capital funds compared with independent venture capital funds. Technovation, 33, 154–162. https://doi.org/10.1016/j.technovation.2012.11.007 .
Manigart, S., Baeyens, K., & Van Hyfte, W. (2002). The survival of venture capital backed companies. Venture Capital, 4, 103–124. https://doi.org/10.1080/13691060110103233 .
MartÃ, J., & Balboa, M. (2006). Self-regulation in European venture capital and private equity markets. International Journal of Entrepreneurship and Innovation Management, 6, 395–411. https://doi.org/10.1504/IJEIM.2006.010373 .
Mason, C. M., & Harrison, R. T. (2015). Business angel investment activity in the financial crisis: UK evidence and policy implications. Environ. Plan. C Gov. Policy, 33, 43–60. https://doi.org/10.1068/c12324b .
Megginson, W. L., & Weiss, K. A. (1991). Venture capitalist certification in initial public offerings. The Journal of Finance, 46, 879–903. https://doi.org/10.1111/j.1540-6261.1991.tb03770.xfr .
Michaelas, N., Chittenden, F., & Poutziouris, P. (1999). Financial policy and capital structure choice in U.K. SMEs: empirical evidence from company panel data. Small Bussiness Economics, 12, 113–130. https://doi.org/10.1023/A:1008010724051 .
Mills, K.G., McCarthy, B., (2014). The state of small business lending: credit access during the recovery and how technology may change the game (No. 15-004). Boston.
Minola, T., Vismara, S., & Hahn, D. (2017). Screening model for the support of governmental venture capital. The Journal of Technology Transfer, 42, 59–77. https://doi.org/10.1007/s10961-015-9461-4 .
Muzyka, D., Birley, S., & Leleux, B. (1996). Trade-offs in the investment decisions of European venture capitalists. Journal of Business Venturing, 11, 273–287. https://doi.org/10.1016/0883-9026(95)00126-3 .
Myers, S. C., & Majluf, N. S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13, 187–221. https://doi.org/10.1016/0304-405X(84)90023-0 .
Ollivaud, P., & Turner, D. (2015). The effect of the global financial-crisis on OECD potential output. OECD Journal: Economic Studies, 2014, 41–60.
Paglia, J. K., & Harjoto, M. A. (2014). The effects of private equity and venture capital on sales and employment growth in small and medium-sized businesses. Journal of Banking & Finance, 47, 177–197. https://doi.org/10.1016/j.jbankfin.2014.06.023 .
Puri, M., & Zarutskie, R. (2012). On the life cycle dynamics of venture-capital- and non-venture-capital-financed firms. The Journal of Finance, 67, 2247–2293. https://doi.org/10.1111/j.1540-6261.2012.01786.x .
- Sørensen, M. (2007). How smart is smart money? A two-sided matching model of venture capital. The Journal of Finance, 62, 2725–2762. https://doi.org/10.1111/j.1540-6261.2007.01291.x .
Paper not yet in RePEc: Add citation now
Sahlman, W. A. (1990). The structure and governance of venture-capital organizations. Journal of Financial Economics, 27, 473–521. https://doi.org/10.1016/0304-405X(90)90065-8 .
Sapienza, H., Manigart, S., & Vermeir, W. (1996). Venture capitalist governance and value added in four countries. Journal of Business Venturing, 11, 439–469. https://doi.org/10.1016/S0883-9026(96)00052-3 .
- Standaert, T., & Manigart, S. (2017). Government as fund-of-fund and VC fund sponsors: effect on employment in portfolio companies. Small Business Economics. https://doi.org/10.1007/s11187-016-9831-9 .
Paper not yet in RePEc: Add citation now
- Sutton, J. (1997). Gibrat’s legacy. Journal of Economic Literature, 35, 40–59. https://doi.org/10.2307/2729692 .
Paper not yet in RePEc: Add citation now
Tian, X. (2012). The role of venture capital syndication in value creation for entrepreneurial firms. Review of Finance, 16, 245–283. https://doi.org/10.1093/rof/rfr019 .
Tyebjee, T. T., & Bruno, A. V. (1984). A model of venture capitalist investment activity. Management Science, 30, 1051–1066. https://doi.org/10.1287/mnsc.30.9.1051 .
- van den Pol, A. C. (2016). The effect of the financial crisis on venture capital-backed firms an empirical study on the VC industry’ s function and its investees. Erasmus University.
Paper not yet in RePEc: Add citation now
- Webcapitalriesgo, (2016). Venture capital and private equity investments [WWW document]. URL https://www.webcapitalriesgo.com/dos.php?idioma=ES&activo=M5 (accessed 7.16.16).
Paper not yet in RePEc: Add citation now
- Wilson, K., 2015. Policy lessons from financing young entrepreneurial firms. Paris. doi: https://doi.org/10.1787/5js03z8zrh9p-en .
Paper not yet in RePEc: Add citation now
Windmeijer, F. (2005). A finite sample correction for the variance of linear efficient two-step GMM estimators. Journal of Econometrics, 126, 25–51. https://doi.org/10.1016/j.jeconom.2004.02.005 .
- Young, B., (2014). Financial crisis: causes, policy responses, future challenges. Brussels. doi: https://doi.org/10.2777/65531 .
Paper not yet in RePEc: Add citation now