Authors: Bernard Guilhon, Sandra Montchaud
Addresses: Centre d'Economie et de Finances Internationales (CEFI) CNRS-FRE 2778, University of the Mediterranean – Aix-Marseille II, France. ' Centre d'Economie et de Finances Internationales (CEFI) CNRS-FRE 2778, University of the Mediterranean – Aix-Marseille II, France
Abstract: The gaps in terms of R&D and innovation between the European countries and the USA can be explained by the specific nature of their current financial systems. Young innovative firms are particularly susceptible to financial difficulties; however, these can be eased by venture capital linked to active financial markets. Sensitive gaps between particular countries exist from the point of view of private equity in the seed and start-up phases.
Keywords: R&D investment; innovation funding; financial systems; financial gap; venture capital; entrepreneurial finance; Europe; entrepreneurship; innovation management; research and development; SMEs; small and medium-sized enterprises.
International Journal of Entrepreneurship and Innovation Management, 2006 Vol.6 No.4/5, pp.383 - 394
Published online: 17 Jul 2006 *Full-text access for editors Access for subscribers Purchase this article Comment on this article