Article (Scientific journals)
How does governmental versus private venture capital backing affect a firm's efficiency? Evidence from Belgium
Alperovych; Hübner, Georges; Lobet, Fabrice
2015In Journal of Business Venturing, 30, p. 508-525
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Keywords :
Venture capital; Efficiency; Data envelopment analysis; Fund type; Public investor
Abstract :
[en] We investigate the implications of venture capital (VC) investor type (government or private) on the operating efficiency of a sample of 515 Belgian portfolio firms up to 3 years after the investment. We find that the government VC-backed firms display significant reductions in productivity. No significant differences in efficiency are found in firms backed by private VC compared with their non-VC-backed peers. Finally, significant reductions in efficiency exist in targets of government VC compared to their non-VC-backed peers.
Disciplines :
Finance
Author, co-author :
Alperovych
Hübner, Georges  ;  Université de Liège - ULiège > HEC-Ecole de gestion : UER > Gestion financière
Lobet, Fabrice
Language :
English
Title :
How does governmental versus private venture capital backing affect a firm's efficiency? Evidence from Belgium
Publication date :
2015
Journal title :
Journal of Business Venturing
ISSN :
0883-9026
eISSN :
1873-2003
Publisher :
Elsevier Science, Amsterdam, Netherlands
Volume :
30
Pages :
508-525
Peer reviewed :
Peer Reviewed verified by ORBi
Funders :
FRFC - Fonds de la Recherche Fondamentale Collective [BE]
Available on ORBi :
since 10 December 2014

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