Private equity and innovation : assessing the impact of private equity investments on Scandinavian portfolio companies
Master thesis
Permanent lenke
http://hdl.handle.net/11250/2407436Utgivelsesdato
2016Metadata
Vis full innførselSamlinger
- Master Thesis [4490]
Sammendrag
We investigate the impact private equity disbursements have on innovation in Scandinavia,
using an empirical methodology developed by Kortum and Lerner (2000). Our sample
consists of PE disbursements, R&D expenditures and granted patents in Norway, Sweden
and Denmark from 1997-2009. Private equity accounted for 12% of patents granted in
Scandinavia, while the ratio of private equity to R&D was above 20%. Our findings are
contradictory to previous empirical studies and imply that private equity was less potent
than R&D in creating innovation from 1997-2009.