![]() |
| Das Dokument ist frei verfügbar |
|
| | Nachweis | Kein Nachweis verfügbar |
|
| Young entrepreneurial firms are of critical importance for innovation. But to bring their new ideas to the market these startups depend on investors who understand and are willing to accept the risk associated with a new firm. Perhaps the key reason as to why the US has succeeded in producing nearly all the most successful new firms of the 21st century is the economy’s ability to supply vast sums of capital to promising startups. The volume of venture capital (VC) invested in the US is more than 60 times that of Germany (OECD 2017). In this policy note we argue that differences in the regulatory and structural context of institutional investors in particular life insurance companies is a central driver of the relative lack of VC - and thereby successful startups - in Germany. |
|
|