RT Journal Article
T1 The role of private versus governmental venture capital in fostering job creation during the crisis
A1 Croce, Annalisa
A1 Martí Pellón, José Pedro
A1 Reverte, Carmelo
AB We analyze whether young entrepreneurial ventures backed by different types of venture capital firms, i.e., private (PVCs) vs. government-owned (GOVCs), experience higher employment growth than a matched control group of non-venture-backed companies and whether this effect is particularly relevant in a period of crisis. We base our analyses on a sample of 384 Spanish early-stage VC-backed companies financed during the period 2005-2013 (173 GOVC-backed and 211 PVC-backed) and a control group of 888 non-venture-backed peers. Our results show that PVCs exert a higher impact on employment growth in invested companies than GOVCs in investments carried out during a period of crisis whereas the opposite is found in the case of investments completed before the crisis. Moreover, we find that PVCs enhance their job-creation performance during a period of crisis while GOVCs significantly reduce their impact on employment in the investments carried out during the crisis. These findings could be attributed to the higher value added and monitoring granted by PVCs during the crisis.
PB Springer
SN 0921-898X
YR 2018
FD 2018
LK https://hdl.handle.net/20.500.14352/91997
UL https://hdl.handle.net/20.500.14352/91997
LA eng
NO Croce, Annalisa, Jose Martí, y Carmelo Reverte. «The Role of Private versus Governmental Venture Capital in Fostering Job Creation during the Crisis». Small Business Economics 53, n.o 4 (diciembre de 2019): 879-900. https://doi.org/10.1007/s11187-018-0108-3.
NO Ministerio de Economía y Competitividad (España)
DS Docta Complutense
RD 7 abr 2025