In which regions do governmental, independent, and corporate venture capital firms invest? An empirical investigation across 402 German regions

Masiak, Christian; Fisch, Christian; Block, Jörn

doi:10.1007/978-3-030-17612-9_8

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In which regions do governmental, independent, and corporate venture capital firms invest? An empirical investigation across 402 German regions

Masiak, Christian; Fisch, Christian; Block, Jörn

2020 • In Moritz, Alexandra; Block, Jörn; Golla, Stephan et al. (Eds.) Contemporary Developments in Entrepreneurial Finance

Peer reviewed

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https://hdl.handle.net/10993/50147

DOI
10.1007/978-3-030-17612-9_8

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Keywords :

Corporate venture capital; governmental venture capital; independent venture capital; localization; region; venture capital

Abstract :

[en] We analyze the distribution of venture capital (VC) investments across German regions and explore the geographical determinants of these investments. So far, little is known about the regional determinants of governmental (GVC), independent (IVC), and corporate (CVC) VC firms and about whether these types of VC firms invest in different regions. Combining a dataset of 402 German districts, our regressions show that regions with a higher supply of human capital and knowledge creators attract a significantly higher number of GVC investments. Moreover, we find a significant difference in economically weaker regions but do not find a metropolitan bias. Hence, GVC firms do not invest more frequently in rural regions per se and do not prevent regional disparities more often than other types of VC firms. The implications of these findings for high-tech firms and regional policy are discussed.

Disciplines :

Strategy & innovation

Author, co-author :

Masiak, Christian

Fisch, Christian

Block, Jörn

External co-authors :

yes

Language :

English

Title :

In which regions do governmental, independent, and corporate venture capital firms invest? An empirical investigation across 402 German regions

Publication date :

2020

Main work title :

Contemporary Developments in Entrepreneurial Finance

Author, co-author :

Moritz, Alexandra

Block, Jörn

Golla, Stephan

Werner, Arndt

Publisher :

Springer

ISBN/EAN :

978-3-030-17612-9

Pages :

201-227

Peer reviewed :

Peer reviewed

Focus Area :

Entrepreneurship and Innovation / Audit

Available on ORBilu :

since 02 February 2022

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