Template-type: ReDIF-Paper 1.0
Author-Name: Antonelli, Cristiano 
Author-Email: cristiano.antonelli@unito.it
Author-Name: Teubal, Morris
Author-Email: msmorris@mscc.huji.ac.il
Author-Workplace-Name: University of Turin
Author-Workplace-Homepage: http://www.est.unito.it/
Title: Venture Capital as a Mechanism for Knowledge Governance: New Markets and Innovation-Led Economic Growth
Abstract:Venture capitalism can be understood as a new mechanism for the governance of technological knowledge that
is the result of a system dynamics where a variety of complementary and localized innovations introduced by 
heterogeneous agents aligned and converged towards a collective platform. The new mechanism has improved the 
governance of technological knowledge within economic systems, through the combination of new science based 
start-up and new, dedicated financial markets specialized in the transactions of knowledge intensive property 
rights. The new, dedicated financial markets seem able to combine the advantages in screening and sorting radical 
innovations of the polyarchic decision-making with the advantages stemming from the direct participation to the 
profits of new outperforming science-based start-up that are characteristics of the equity provision of finance to 
innovation,typical of the corporate model. 
Length: 27 pages
Creation-Date: 2008-07
File-URL:http://www.est.unito.it/do/home.pl/Download?doc=/allegati_wp/wp2008dip_l_b/5_wp_momigliano.pdf
File-Format: Application/PDF
Handle: RePEc:uto:labeco:200805