IDEAS home Printed from https://ideas.repec.org/a/hur/ijaraf/v2y2012i4p387-398.html
   My bibliography  Save this article

Development Measures of Institutional Venture Capital in Transition Economies. The case of Macedonia

Author

Listed:
  • Shqipe Gerguri

    (South East European University at Tetovo)

  • Sadudin Ibraimi

    (South East European University at Tetovo)

  • Veland Ramadani

    (South East European University at Tetovo)

Abstract

Financing is a very critical issue for the survival and development of small and medium sized enterprises. Due to inexperienced management, lack of specialization, lack of undifferentiated production program, lack of reference of successful story, unwillingness of entrepreneur to share the ownership etc., many researches confirm that financing represents a serious difficulty for small and medium sizes enterprises. So, venture capital (VC) represents a very interesting solution for the new and existing small and medium sized enterprises which have interesting and attractive ideas and projects, but are short of finances. The specific importance that lies on venture capital and its impact on small and medium sized enterprises is the fact that they provide much more than money for them. Beside the money they offer advices, experiences and contacts, which can increase the success possibilities of small and medium sized enterprises. This paper offers proposed measures, which should be taken in consideration for the development of venture capital in Macedonia. It also offer some analyses of the current situation in Republic of Macedonia related to the development of venture capital, i.e., current situation, initiatives, legal framework, investment barriers and so on.

Suggested Citation

  • Shqipe Gerguri & Sadudin Ibraimi & Veland Ramadani, 2012. "Development Measures of Institutional Venture Capital in Transition Economies. The case of Macedonia," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(4), pages 387-398, October.
    • Handle: RePEc:hur:ijaraf:v:2:y:2012:i:4:p:387-398
    as

    Download full text from publisher

    File URL: http://www.hrmars.com/admin/pics/1452.pdf
    Download Restriction: no
    File URL: http://www.hrmars.com/admin/pics/1452.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ibanez, Fernan, 1989. "Venture capital and entrepreneurial development," Policy Research Working Paper Series 53, The World Bank.
    2. Judit Karsai, 2009. ""The End of the Golden Age" - The Developments of the Venture Capital and Private Equity Industry in Central and Eastern Europe," CERS-IE WORKING PAPERS 0901, Institute of Economics, Centre for Economic and Regional Studies.
    3. Judit Karsai, 2013. "Venture capital and private equity industry in Hungary," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 63(1), pages 23-42, March.
    4. Kenney, Martin, 2000. "Note on "Venture Capital"," UCAIS Berkeley Roundtable on the International Economy, Working Paper Series qt44z1z1mc, UCAIS Berkeley Roundtable on the International Economy, UC Berkeley.
    5. Anonymous, 2009. "Abstract of the discussion," British Actuarial Journal, Cambridge University Press, vol. 15(1), pages 202-217, March.
    6. Caselli, Stefano, 2009. "Private Equity and Venture Capital in Europe," Elsevier Monographs, Elsevier, edition 1, number 9780123750266.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Holger Gorg & Laszlo Halpern & Balazs Murakozy, 2010. "Why Do Within Firm-Product Export Prices Differ across Markets?," CERS-IE WORKING PAPERS 1003, Institute of Economics, Centre for Economic and Regional Studies.
    2. Kerstin Bernoth & Roberta Colavecchio & Magdolna Sass, 2010. "Drivers of Private Equity Investment in CEE and Western European Countries," Discussion Papers of DIW Berlin 1002, DIW Berlin, German Institute for Economic Research.
    3. Andras Simonovits, 2010. "Tax Morality and Progressive Wage Tax," CERS-IE WORKING PAPERS 1005, Institute of Economics, Centre for Economic and Regional Studies.
    4. Judit Karsai, 2012. "Development of the Hungarian Venture Capital and Private Equity Industry over the Past Two Decades," CERS-IE WORKING PAPERS 1201, Institute of Economics, Centre for Economic and Regional Studies.
    5. Andras Simonovits, 2009. "Underreported earnings and age-specific income redistribution in post-socialist economies," CERS-IE WORKING PAPERS 0927, Institute of Economics, Centre for Economic and Regional Studies.
    6. Zsolt Darvas, 2013. "Monetary transmission in three central European economies: evidence from time-varying coefficient vector autoregressions," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 40(2), pages 363-390, May.
    7. Melsa Ararat & George Dallas, 2011. "Corporate Governance in Emerging Markets : Why It Matters to Investors—and What They Can Do About It," World Bank Publications - Reports 11071, The World Bank Group.
    8. Ehlers, Tim, 2011. "University graduation dependent on family's wealth, ability and social status," University of Göttingen Working Papers in Economics 120, University of Goettingen, Department of Economics.
    9. Kelly Ruth, 2010. "EU and U.S. Non-Reciprocal Preferences: Maintaining the Acquis," The Law and Development Review, De Gruyter, vol. 3(1), pages 1-39, April.
    10. Andrei Shleifer & Robert Vishny, 2011. "Fire Sales in Finance and Macroeconomics," Journal of Economic Perspectives, American Economic Association, vol. 25(1), pages 29-48, Winter.
    11. repec:idb:brikps:365 is not listed on IDEAS
    12. Menon, Martina & Pendakur, Krishna & Perali, Federico, 2012. "On the expenditure-dependence of children’s resource shares," Economics Letters, Elsevier, vol. 117(3), pages 739-742.
    13. Kosztopulosz, Andreász & Kiss, Gábor Dávid & Udvari, Beáta & Kovács, Hajnalka, 2017. "Állami magvető tőke és a kereskedelmi űrhajózás új modelljének első évtizede [The first decade of a new model of state seed capital and commercial space travel]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 421-439.
    14. Gunther Tichy, 2011. "Die Staatsschuldenkrise: Ursachen und Folgen," WIFO Monatsberichte (monthly reports), WIFO, vol. 84(12), pages 797-810, December.
    15. Michaël Sicsic, 2018. "Financial Incentives to Work in France between 1998 and 2014," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 503-504, pages 13-35.
    16. Kelvin W. Willoughby, 2013. "Intellectual Property Management And Technological Entrepreneurship," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 10(06), pages 1-42.
    17. Pejman Abedifar & Philip Molyneux & Amine Tarazi, 2013. "Risk in Islamic Banking," Review of Finance, European Finance Association, vol. 17(6), pages 2035-2096.
    18. Bearse, Peter & Cardak, Buly A. & Glomm, Gerhard & Ravikumar, B., 2013. "Why do education vouchers fail at the ballot box?," European Journal of Political Economy, Elsevier, vol. 32(C), pages 26-37.
    19. Naz Onel & Avinandan Mukherjee, 2014. "The effects of national culture and human development on environmental health," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 16(1), pages 79-101, February.
    20. Muriithi, Beatrice W., 2013. "Does commercialization of smallholder horticulture reduce rural poverty? Evidence based on household panel data from Kenya," 2013 Fourth International Conference, September 22-25, 2013, Hammamet, Tunisia 161563, African Association of Agricultural Economists (AAAE).
    21. Hommes, Cars, 2011. "The heterogeneous expectations hypothesis: Some evidence from the lab," Journal of Economic Dynamics and Control, Elsevier, vol. 35(1), pages 1-24, January.

    More about this item

    Keywords

    Venture capital; venture capital fund; carried interest; management fee; investments;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hur:ijaraf:v:2:y:2012:i:4:p:387-398. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hassan Danial Aslam (email available below). General contact details of provider: http://hrmars.com/index.php/pages/detail/Accounting-Finance-Journal .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.