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dc.rights.licenseopenen_US
dc.contributor.authorBEDU, N.
hal.structure.identifierGroupe de Recherche en Economie Théorique et Appliquée [GREThA]
dc.contributor.authorMONTALBAN, Matthieu
IDREF: 076469336
dc.date.accessioned2020-02-18T19:48:12Z
dc.date.available2020-02-18T19:48:12Z
dc.date.issued2014
dc.identifier.issn14751461en_US
dc.identifier.urihttps://oskar-bordeaux.fr/handle/20.500.12278/3511
dc.description.abstractEnBased on the literature on the diversity of capitalism (DoC) and legal origin (LO), this article examines the role of institutional configurations in the uneven development of private equity (PE) in 18 European countries. The article shows that developed stock markets, the ability of limited partners (insurance companies) to invest in LBO funds and low employment protection are more important determinants than investor protection in the case of LBO investments. However, venture capital (VC) investments are found to be positively associated with investor protection but also with developed stock markets and favourable tax rates for managers. R&D tax incentives for investee companies are found to have a negative impact on VC investments, which are nonetheless promoted by public R&D expenditures. Even if national institutional configurations matter in explaining differences, as emphasised by LO and DoC, we observe a common trend in PE development and financialisation.
dc.language.isoENen_US
dc.subject.enEurope
dc.subject.enFinancial institutions
dc.subject.enFinancialisation
dc.subject.enInstitutional complementarity
dc.subject.enLaw
dc.subject.enVarieties of capitalism
dc.title.enAnalysing the uneven development of private equity in Europe: Legal origins and diversity of capitalism
dc.title.alternativeSocio-Econ. Rev.en_US
dc.typeArticle de revueen_US
dc.identifier.doi10.1093/ser/mwt011en_US
dc.subject.halEconomie et finance quantitative [q-fin]en_US
dc.subject.halÉconomie et finance quantitative [q-fin]
bordeaux.journalSocio-Economic Reviewen_US
bordeaux.page33-70en_US
bordeaux.volume12en_US
bordeaux.hal.laboratoriesGroupe de Recherche en Economie Théorique et Appliquée (GREThA) - UMR 5113en_US
bordeaux.issue1en_US
bordeaux.institutionUniversité de Bordeauxen_US
bordeaux.peerReviewedouien_US
bordeaux.inpressnonen_US
hal.identifierhal-03141643
hal.version1
hal.date.transferred2021-02-15T13:01:04Z
hal.exporttrue
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