The Impact of Economic Integration on Cross–Border Venture Capital Investments: Evidence from the European Union
研究了欧盟的市场和货币一体化机制是否增加了成员国之间的跨境风险投资流量，发现广泛的经济一体化政策确实影响了外国风险投资进入其他成员国的程度。
Despite major policies surrounding economic integration among countries (e.g., the European Union [EU], North Atlantic Free Trade Area, and Mercosur), the theoretical and empirical research addressing the impact of such policies on various countries’ entrepreneurial activities has yet to fully emerge. To address this issue, this paper draws on institutional, economic, and entrepreneurship literatures to examine if two specific economic integration mechanisms, namely market and currency commonality, increase cross–border venture capital flows made by participating nations in the EU. Findings suggest that broad scale economic integration policies do influence the extent of foreign venture capital investments made into other member countries.