The author has benefited from numerous discussions with Ulrich Hege and Charles Van Wymeersch. He also thanks Stefan Arping, Christopher Hennessy, Patrick Legros, Enrico Perotti, Isabelle Platten, Loic Sadoulet, Mark Seasholes and Ernst-Ludwig von Thadden for their encouragement and constructive comments on this article, and participants at the 2000 FMA European doctoral meetings, the CEPR conference on the ‘Evolution of Market Structure in Network Industries’, the Belgian Financial Research Forum 2001, the 2001 FMA European conference, the 2001 AFFI conference, the CEPR-WZB conference on ‘Innovation Policy and International Markets’, and seminars in Amsterdam, Berkeley, Groningen, Leuven, Montreal, Namur and Tilburg. The article was completed while the author was a visiting scholar at the University of California at Berkeley, Haas School of Business. Financial support by the Intercollegiate Center for Management Sciences (ICM) in Belgium and EU Grant Ricafe2 CIT5-CT-2006-028942 is gratefully acknowledged. The usual disclaimer applies.
Innovation and Venture Capital Exits*
Article first published online: 7 OCT 2008
© The Author(s). Journal compilation © Royal Economic Society 2008
The Economic Journal
Volume 118, Issue 533, pages 1888–1916, November 2008
How to Cite
Schwienbacher, A. (2008), Innovation and Venture Capital Exits. The Economic Journal, 118: 1888–1916. doi: 10.1111/j.1468-0297.2008.02195.x
- Issue published online: 7 OCT 2008
- Article first published online: 7 OCT 2008
- Submitted: 8 July 2005 Accepted: 12 September 2007
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