The venture capital (VC) sector in central and eastern Europe (CEE) is characterised by the dominance of public resources. This is mainly due to a new type of equity scheme introduced in the European Union’s 2007–2013 programming period. The paper examines how successful the CEE EU member states, with a relatively less developed VC industry, were in using government equity schemes based on market cooperation between public and private market actors. It provides a general overview of the VC programmes launched in the CEE region viewed through the lens of academic design theories. The paper concludes that government VC programmes in the region are characterised by short time frames, administrative requirements which restricted investors, small fund sizes preventing efficient operation and limited participation of institutional investors. Compared to developed countries agency problems were much more pronounced. The limited number of business angels and incubator organisations, the high number of underfinanced promising start-ups and the misuse of government connections meant that the use of predominantly hybrid funds’ forms of government VC programmes were more challenging in the CEE region compared to western Europe. However, the greatest risk of public equity schemes – the crowding out effect on private investors – is absent in the CEE region because of the lack of private investors.
Venue: MTA HTK 1097 Budapest Tóth Kálmán u. 4. fszt. K0.11-12 Marczell Kinga (CEU) The Effect of Managers’ Health Shocks on Employment Practices with Hajdu Gergely (CEU) We investigate the effect of managers’ health ... Details »
Venue: MTA HTK 1097 Budapest Tóth Kálmán u. 4. fszt. K0.11-12 Békés Gábor, Bisztray Márta: Területi egyensúly – a munkaerőpiac és az ingatlanárak kapcsolata Magyarországon TBA Share this:FacebookLinkedInTwitterGoogle
Venue: MTA HTK 1097 Budapest Tóth Kálmán u. 4. fszt. K0.11-12 Csató László (BCE, MTA-SZTAKI) A universal university ranking from the revealed preferences of the applicants https://arxiv.org/abs/1810.04087 A methodology is presented to rank universities on ... Details »
Caesarean delivery and the use of antidepressants was presented by Anikó BÍRÓ at The University of Aberdeen, Health Economics Research Unit. Share this:FacebookLinkedInTwitterGoogle
Job loss, disability pension and health expenditures was presented by Anikó BÍRÓ at The University of Edinburgh, School of Economics. Share this:FacebookLinkedInTwitterGoogle
Dynamics of anticorruption campaigns and power redistribution in China was presented by Mária CSANÁDI at the 4th The Role of State in Varieties of Capitalism (SVOC) conference. Share ... Details »