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Analysis of Performance of Venture Capital Funds in Transition Countries: An Empirical Study in Bosnia and Herzegovina

In: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 8-9 September 2016

Author

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  • Đalić, Irena
  • Terzić, Svetlana

Abstract

Many transition post-socialist countries still face the burden of the centrally planned economies. The new entrepreneurial society that is yet to be developed in these countries should be an association of people with pronounced individuality and different needs, with different rights and obligations. Capital markets in Southeast Europe, in recent years, become increasingly important as a leverage of the development of entrepreneurial societies. One of the most important new forms of financing is venture capital funds. These funds are especially important for the financing of start-up enterprises, which are trying to succeed utilizing modern high technologies. Since the newly formed enterprises have difficulties in getting favorable sources of financing, venture capital funds can have an important role in developing economies. In our study we focus on the current state of venture capital funds in Bosnia and Herzegovina as the representative of post-socialist transition countries. The main goal of this paper is to demonstrate the importance of venture capital for growth and development of small and medium-sized enterprises.

Suggested Citation

  • Đalić, Irena & Terzić, Svetlana, 2016. "Analysis of Performance of Venture Capital Funds in Transition Countries: An Empirical Study in Bosnia and Herzegovina," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2016), Rovinj, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 8-9 September 2016, pages 53-60, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    • Handle: RePEc:zbw:entr16:183700
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    References listed on IDEAS

    as
    1. Romain, Astrid & Pottelsberghe de la Potterie, Bruno van, 2003. "The Economic Impact of Venture Capital," IIR Working Paper 03-20, Institute of Innovation Research, Hitotsubashi University.
    2. Schertler, Andrea & Tykvová, Tereza, 2011. "Venture capital and internationalization," International Business Review, Elsevier, vol. 20(4), pages 423-439, August.
    3. Geronikolaou, George & Papachristou, George, 2008. "Venture Capital and Innovation in Europe," MPRA Paper 36706, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    transition; development; financing; venture capital funds; start-up; enterprise; management;
    All these keywords.

    JEL classification:

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

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