Abstract
We studied the optimal funding of the public sector for the Hi-Tech industry in the presence of short-term, cyclical, venture capital (VC) funding by constructing a decision-making model that results in the optimal governmental support and a model that accounts for the dynamics of the VC industry. We found that the VC industry is highly correlated with the NASDAQ stock index and that the optimal public policy for funding the Hi-Tech sector should be anti-cyclical, dynamic, and conditioned on the VC investments. The models and their validation are discussed as well as the practical implications for policy and decision makers.
| Original language | English |
|---|---|
| Pages (from-to) | 105-122 |
| Number of pages | 18 |
| Journal | International Journal of Innovation and Technology Management |
| Volume | 5 |
| Issue number | 1 |
| DOIs | |
| State | Published - 1 Jan 2008 |
| Externally published | Yes |
Keywords
- Hi-Tech
- Public sector
- government
- high technology
- investment
- venture capital
ASJC Scopus subject areas
- Management of Technology and Innovation
Fingerprint
Dive into the research topics of 'Venture capital, the public sector and the high-technology industry'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver