Unbiased estimation of economic impact of venture capital backed firms

Maria Luisa Alemany Gil, José Martí Pellón

Research output: Conference paperContribution

Abstract

One of the pending issues in venture capital (VC) research is the analysis of the economic impact of the companies that receive venture funds as part of their financing. This paper analyses a sample of VC-backed firms to study their economic impact, in terms of growth in employment, sales, gross margin, total assets, net intangible assets and corporate taxes paid. The results are compared to a control group. Additionally, panel data methodology is applied to verify the significant effect observed over time on the variables analysed. The evidence suggests that VC-backed companies have a greater economic impact and that VC funding has a significant and positive effect on this impact.
Original languageEnglish
Publication statusPublished - 24 Aug 2005
Event32nd EFA Annual Meeting 2005 -
Duration: 24 Aug 200527 Aug 2005

Conference

Conference32nd EFA Annual Meeting 2005
Period24/08/0527/08/05

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