How does governmental versus private venture capital backing affect a firm's efficiency? Evidence from Belgium

[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 :

Pages :

508-525

Peer reviewed :

Peer Reviewed verified by ORBi

Funders :

FRFC - Fonds de la Recherche Fondamentale Collective

Available on ORBi :

since 10 December 2014

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160 (20 by ULiège)

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2848 (17 by ULiège)

More statistics

Scopus citations^®

103

Scopus citations^®
without self-citations

101

OpenCitations

OpenAlex citations

128

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