Access to Finance: Impacts of Publicly Supported Venture Capital and Loan Guarantees

Ramlogan, Ronnie and Rigby, John (2012) Access to Finance: Impacts of Publicly Supported Venture Capital and Loan Guarantees. Project Report. Compendium of Evidence on the Effectiveness of Innovation Policy.

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Official URL: http://www.innovation-policy.org.uk/compendium/sec...

Abstract

Dieser Bericht untersucht staatliche Maßnahmen, die getroffen wurden, um Unternehmen den Zugang zu Finanzmitteln zu ermöglichen. Dies umfasst Maßnahmen, die den Unternehmen direkt finanzielle Hilfe leisten, zB. in Form von finanzieller Unterstützung oder Subventionen für Unternehmen. Die beiden Arten von politischen Maßnahmen sind öffentlich gefördertes Risikokapital und staatlich gedeckte Darlehensgarantien. Allgemein wurde festgestellt, dass Evaluierungen, die zu diesen Instrumenten durchgeführt werden, eine Reihe von Ansätzen zur Bewertung der Leistungsfähigkeit verwenden, von denen die einen nur beschreibend sind, während die anderen Vergleiche beinhalten, jedoch nur sehr wenige das Niveau erreichen, das die Auswahl-Bias-Effekte kontrollieren kann und damit helfen würde die Nettoauswirkungen der spezifischen Politik zu messen.

Abstract (english)

This report examines government measures that have been taken to provide firms with access to finance. This covers measures that provide real financial help to firms, i.e. they are a form of financial assistance or subsidy to firms. The two types of policy measures considered are publicly supported venture capital and government backed loan guarantees. The report first introduces in section two the types of policy measures that we have reviewed while section three explains the scope of sources and material analysed. In general we find that evaluations conducted on these measures employ a range of approaches to assess performance, some of which are simply descriptive, some of which involve comparisons but very few of which attain the level that can control for the selection bias effects that would help to measure the net impacts of policy.

Subjects: Policy, Fields & Systems Evaluation
Divisions: -- Other
Number of Pages: 44
Uncontrolled Keywords: innovation policy, financial help, risk capital, access, finance, policy measure, venture capital, loan guaranties, programme impact, compendium, effectiveness, credit guarantee, moral hazard
Identification Number: 10.22163/fteval.2012.85
Date Deposited: 06 Dec 2016 13:36
URI: http://repository.fteval.at/id/eprint/107

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