How does governmental versus private venture capital backing affect a firm's efficiency? : Evidence from Belgium | Alperovych, Yan
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How does governmental versus private venture capital backing affect a firm's efficiency? : Evidence from Belgium

in Journal of Business Venturing, 30 (4)

ISSN : 0883-9026

Alperovych, Yan ; Hübner, Georges (1971-....) ; Lobet, Fabrice

Voir la revue «Journal of Business Venturing»

Autres numéros de la revue «Journal of Business Venturing»

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.

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