Browsing by Subject "entrepreneurial finance"
Now showing 1 - 2 of 2
Results Per Page
Sort Options
Item Entrepreneurial Finance in Weak Institutional Environments(Oxford University Press, 2012) Lingelbach, David CEntrepreneurs and their financiers in emerging and developing countries face a diversity of challenges and opportunities that often differ from those faced by their counterparts in developed countries. Some of these challenges-if one fictional, but plausible, account from India is to be believed-may be quite extreme. This article considers what we do and do not know about this phenomenon, and how the phenomenon and our knowledge about it are likely to change. The diversity of institutional environments within weak institutional environments (WIEs) has created a wide variety of entrepreneurial financing systems and outcomes. The institutional environment is more important for younger firms seeking external finance than it is for mature firms. A variety of factors may contribute to the size and success of entrepreneurial finance markets in WIEs, including legal origin, the presence (or absence) of government support, tax laws, the development of the banking sector, unexploited opportunities for new investments, the size of the stock market, and the characteristics of institutional investors.Item Twelve Meditations on Venture Capital: Some Heretical Observations on the Dissonance Between Theory and Practice When Applied to Public/Private Collaborations on Entrepreneurial Finance Policy(2009) Murray, Gordon; Lingelbach, David CThis paper reflects on the policy formation process in the burgeoning area of early-stage, venture capital finance. An important question is raised as to why so little extant academic research, of both rigor and relevance, is employed in policy formation. The authors argue that the long term, international and comparative perspective of the academic researcher is of increasing importance in government. The gap between policy practice and academic empiricism is illustrated by reference to contemporary policy interest in the creation of public/private (‘hybrid’) venture capital funds. The rubric of Twelve Meditations is employed as a device to communicate across the academic/policy maker divide.