Abstract

The outstanding success attained by Private Equity and Venture Capital (PE/VC) in fostering the U.S. entrepreneurial sector has encouraged several countries to import it. However, PE/VC was tailored to perform in the American institutional environment. As Gompers and Lerner (1999) state, the degree to which the U.S. venture model will – or can – be successfully adapted to other countries is a particularly interesting question.

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