Venture capital investment, regional innovation and new business creation: a research note Online publication date: Fri, 25-Nov-2016
by Douglas Dyer; Iftekhar Hasan; Haizhi Wang; Desheng Yin
International Journal of Banking, Accounting and Finance (IJBAAF), Vol. 7, No. 2, 2016
Abstract: Entrepreneurship involves mobilising resources in the founding of new businesses to pursue entrepreneurial opportunities. Resource acquisition, especially of financial resource, is crucial for bringing innovative ideas into reality. Though the role of venture capital, as a specialised and important intermediary, in financing innovative entrepreneurial companies is widely recognised, relatively little evidence shows the real effects of venture capital investment. This paper empirically examines the real effects of venture capital investment on regional innovation and new firm creation in the USA. Overall, the results confirm a significant and positive role of venture capital investment in promoting innovation and fostering entrepreneurship.
Online publication date: Fri, 25-Nov-2016
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