TY  - JOUR
U1  - Zeitschriftenartikel, wissenschaftlich - begutachtet (reviewed)
A1  - Adam, Urs
A1  - Herzog, Bodo
A1  - Mast, Clemens
A1  - Molterer, Manuel
T1  - Venture capital and the innovative power of a state : econometric study including Google data
JF  - Journal of statistical and econometric methods
N2  - This article focuses on venture capital investments and the innovative power of a state defined by its public infrastructure. The economic implications are evaluated by estimating several panel regression models. The novelty is twofold: on the one hand the research approach and on the other hand the new data set. The data ranges from 1995 to 2014 and consists of 10 European countries plus the US and Canada. For the first time we include Google search data on Venture Capital. The results show a significant increase in Venture Capital is mainly determined by economic conditions such as real GDP growth. The impact of the innovative power of a state is not significant. We find that Google data is positively related and significant in respect to Venture Capital investments too. Consequently, we confirm that private business investments cannot be created by government policy alone rather via solid macroeconomic conditions.
KW  - venture capital
KW  - innovation power of states
KW  - Google data
KW  - panel regression
Y1  - 2015
U6  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-4968
UN  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-4968
UR  - http://www.scienpress.com/journal_focus.asp?main_id=68&Sub_id=IV&Issue=1587
SN  - 2241-0384
SS  - 2241-0384
VL  - 4
IS  - 3
SP  - 47
EP  - 63
S1  - 17
PB  - Scienpress
CY  - London
ER  -