scholarly journals The Impact of Public Interventions on Self-Sustainable Venture Capital Market Development in Latvia from the Perspective of VC Fund Managers

2020 ◽  
Vol 6 (3) ◽  
pp. 53
Author(s):  
Anita Matisone ◽  
Natalja Lace
Keyword(s):  
Venture Capital ◽  
High Growth ◽  
Geographic Area ◽  
Structural Fund ◽  
Planning Period ◽  
Fund Managers ◽  
Structural Funds ◽  
Eu Structural Funds ◽  
Publicly Supported ◽  
The Impact

This paper presents the results of a study on the impact of EU structural funds on the development of a self-sustainable venture capital (VC) market in Latvia from the perspective of VC fund managers. The study had two objectives. The first was to assess the contribution of European Union (EU) structural funds (SF) programmes toward the development of a self-sustainable VC industry in Latvia. The second was to identify ways by which the structural fund support could be better exploited for the development of the VC industry in Latvia. During three SF planning periods, the stated primary goal of the programmes to support high-growth SMEs was attained—to date, 294 VC investments have been made by publicly supported hybrid VC funds. During the 2004–2006 planning period, the first generation of professional VC fund managers in Latvia emerged in response to the opportunity to manage publicly supported hybrid VC funds. During the subsequent programmes, a high continuation rate by the established managers was observed. Nevertheless, Latvian VC fund managers are not yet capable of raising private funds and still encounter difficulties in attracting the necessary level of private capital for the publicly supported hybrid VC funds. The novelty of the study is the finding that improvements in the SF programme designs did not significantly decrease the impact of factors identified as limiting the success of the operations of VC managers. This suggests and confirms conclusions of other studies that argue that public policies aimed at creating healthy and supporting conditions for VC activity are necessary in addition to public financial support for VC funds. Regarding the next planning period, the suggestion regarding programme design is to continue with already started improvements: increasing the volume of funds, widening the geographic area eligible for investments, reducing restrictions on the types of financial instruments that may be used, lowering the administrative burden for VC fund managers and avoiding micromanagement of VC funds by governmental agency. The observation that the influence of investments in VC funds on the governmental agency’s responsible for VC investments financial statements may be partly responsible for the tendency to micromanage VC funds could be useful not only in Latvia but also in other countries.

scholarly journals Financing of Smart Growth in Less Developed Regions on the Example of Poland

e-Finanse ◽  
2018 ◽  
Vol 14 (3) ◽  
pp. 8-20 ◽  
Author(s):  
Dorota Murzyn
Keyword(s):  
Smart Growth ◽  
Regional Level ◽  
The European Union ◽  
Public Intervention ◽  
Structural Funds ◽  
Factors Influencing ◽  
Development Processes ◽  
Eu Structural Funds ◽  
Research Questions ◽  
The Impact

AbstractThe aim of this paper is twofold. First, the smart growth concept is examined with a focus on challenges associated with applying this concept in the less developed regions. Second, the impact of EU structural funds on smart growth in Poland is analyzed at the regional level with a view to contributing to the debate on public intervention in this area. The research questions are as follows: “Is the concept of smart growth, as postulated by the European Union, well suited to the less developed regions?” and “Whether and to what extent do EU funds contribute to achieving smart growth in Poland?”Smart growth has accelerated after 2007, which could suggest a significant impact of EU structural funds, whose allocation to measures supporting innovative activity rose markedly after 2007. However, among the various factors influencing regional development processes, the impact of structural funds was not as strong as might be expected, which was confirmed by further analysis.

scholarly journals The Impact of Financial Innovation Investment Support on SME Competitiveness

2021 ◽  
Vol 13 (3) ◽  
pp. 92-110
Author(s):  
Anna Lewandowska ◽  
Yuriy Bilan ◽  
Grzegorz Mentel
Keyword(s):  
Financial Support ◽  
Main Tool ◽  
Cohesion Policy ◽  
Chi Square ◽  
Balance Sheets ◽  
Structural Funds ◽  
Eu Structural Funds ◽  
The Impact ◽  
Different Sources ◽  
Research Show

This article examines financial support (especially EU Structural Funds as the main tool of cohesion policy) for investments as a lever for the development of SME innovativeness in Poland. The European Commission strongly stresses the importance of their cohesion policy and support for SMEs. European enterprises have suffered significantly from the credit crunch, and the situation could worsen as banks engage in restructuring to eliminate impaired assets from their balance sheets. Supporting SMEs and promoting entrepreneurship is essential for economic development and competitiveness, especially in less developed regions. The main aim of this study is to establish the impact of financial support for investments, especially from EU Structural Funds, on SME competitiveness in Poland. We have analyzed empirically the data drawn from CATI carried out among 805 firms. We have learned how SMEs assess the financial support from different sources along with the resulting impact on the competitiveness of SMEs. The main statistical test for relationships and dependencies was the chi-square independence test and Cramer’s V. The results of our research show that SMEs have not used financial support efficiently. Moreover, micro-enterprises were shown to be the least effective after receiving financial support from EU funds. This support often has a demand-driven effect, but it does not improve firm competitiveness.

scholarly journals EVALUATION OF THE IMPACT OF THE EU STRUCTURAL SUPPORT ON THE COMPETITIVENESS OF LITHUANIAN ECONOMICS

2016 ◽  
Vol 14 (1) ◽  
pp. 74-88
Author(s):  
Ligita GASPARĖNIENĖ ◽  
Rita REMEIKIENĖ
Keyword(s):  
Business Environment ◽  
Strong Impact ◽  
Technological Infrastructure ◽  
Structural Support ◽  
Structural Funds ◽  
Practical Research ◽  
Eu Structural Funds ◽  
Main Determinants ◽  
The Impact ◽  
The Eu

Increasing amounts of the EU structural support in Lithuania require theoretical and practical research to disclose the determinants that have a significant impact on the competitiveness of Lithuanian economics. The purpose of this article is to evaluate the impact of the EU structural support on the competitiveness of Lithuanian economics. The methods of the research include systematic and comparative analysis of the scientific literature, expert evaluation and linear regression. The research disclosed the main determinants of country’s competitiveness. The results have revealed that EU structural support has the most significant impact on Lithuanian engineering and technological infrastructure. The impact of the support on country’s macroeconomic, scientific and social environment can also be considered as significant. The EU structural support has medium strong impact on education and business environment conditions in Lithuania. It has been established that, in the field of business advancement, Lithuanian should be rated as medium competitive. Hence, the increase in country’s competitiveness by employing EU structural funds should be treated as one of priority aims. In addition, responsible authorities should perform with higher efficiency seeking for higher competitiveness of the country.

scholarly journals Structural Funds and Regional Economic Growth: the Greek experience

2021 ◽  
Vol 13 (3) ◽  
Author(s):  
Adamantia Kehagia ◽  
Foteini Kyriazi
Keyword(s):  
Economic Growth ◽  
Structural Changes ◽  
Regional Economic Growth ◽  
The European Union ◽  
Economic Cycle ◽  
Regional Economic ◽  
Structural Funds ◽  
Greek Economy ◽  
Eu Structural Funds ◽  
The Impact

The impact of structural funds of the European Union (EU) on regional economic growth is a matter of both political and economic importance. The large and regular payments made across the EU to countries and regions within them were and are meant to promote various aspects of growth and development and to encourage structural changes that foster investments and economic reforms. But how much of these aims have they been achieved? In this paper we provide considerable empirical evidence that Greek regions have, for the most part, benefited by the various disbursements of EU structural funds. We shed partial light on where this funding went to and to how it potentially contributed to Greek growth but we also raise a number of questions about the viability of the current productive structure of the Greek economy and its over-reliance on tourism. Our results provide support on the efficacy of the payments but leave open the problem of where these payments should be allocated, the monitoring of their absorption and the end impact in the economic cycle within a country.

The Impact of EU Structural Funds on FDI

Kyklos ◽  
2009 ◽  
Vol 62 (4) ◽  
pp. 563-578 ◽  
Author(s):  
Odysseas Katsaitis ◽  
Dimitris Doulos
Keyword(s):  
Structural Funds ◽  
Eu Structural Funds ◽  
The Impact

scholarly journals A Clash between the Business and Political Climates in Sweden – Gender in the European Structural Fund Partnerships

2011 ◽  
Vol 18 (1) ◽  
pp. 53-69 ◽  
Author(s):  
Mona Hedfeldt ◽  
Gun Hedlund
Keyword(s):  
Women Entrepreneurs ◽  
Financial Resources ◽  
Structural Fund ◽  
Development Fund ◽  
Structural Funds ◽  
European Regional Development Fund ◽  
Eu Structural Funds ◽  
European Regional ◽  
Gain Access ◽  
The Eu

In this paper we highlight and discuss a Swedish equality paradox in two different spheres: entrepreneurship and politics. We focus on the EU Structural Funds and women entrepreneurs' access to resources through the European Regional Development Fund (ERDF). Combining human geography and political science, we draw upon network and partnership theory posing questions concerning the room for manoeuvre for women entrepreneurs to gain access to relevant networks, to create new networks in order to establish relations with EU related partnerships, and to gain access to the process of allocating EU structural fund financial resources.

EU STRUCTURAL FUNDS IN CENTRAL & EASTERN EUROPE: TRANSPORT AND URBAN MOBILITY OVERVIEW

2017 ◽  
Vol 70 (0) ◽  
pp. 27-34
Author(s):  
Artur Perchel
Keyword(s):  
Eastern Europe ◽  
Traffic Congestion ◽  
Central And Eastern Europe ◽  
Urban Mobility ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Structural Funds ◽  
Central Eastern Europe ◽  
Eu Structural Funds ◽  
The Impact

Traffic congestion, rising pollution and urban sprawl all deeply affect the quality of life in cities of Central and Eastern Europe (CEE), making investing in the transition towards a low-carbon economy a key priority. Only through the development of sustainable means of transport and urban mobility can healthy living environments be regained, and the impact of climate change mitigated, all the while bolstering local growth. In this context, the hereby article strives to analyse the overall transport investments and urban mobility investments in the CEE region. It provides a data-driven overview of the absorption and implementation of the EU Cohesion Policy, and distribution of EU Structural Funds invested in Central and Eastern Europe in the transport and urban mobility sectors, over the two EU financial programming periods of 2007–2013 and 2014–2020.

scholarly journals ASSESSMENT OF THE IMPACT OF THE EU STRUCTURAL FUNDS ON BUSINESS IN LATVIA

2018 ◽  
Vol 6 ◽  
pp. 15
Author(s):  
Iluta Arbidane ◽  
Madara Tarasova
Keyword(s):  
Legal Framework ◽  
Business Development ◽  
Research Administration ◽  
Research Information ◽  
Structural Funds ◽  
Aggregation Of Information ◽  
Eu Structural Funds ◽  
Programming Period ◽  
The Impact ◽  
The Eu

The aim of the paper is to examine the administration of EU structural funds and their influence on business development. The main problem analysed in the paper is administration of the EU structural funds and their implementation in Latvia, the impact of the activities funded by the EU funds onto business development. In the research, information about the essence and policy of the EU structural funds is analysed, including information about the aspects of formation and influence of the EU structural funds, the basic business principles and factors influencing its development, as well as funding by the EU Structural Funds as an instrument for facilitation of business development. In the research, administration of the EU structural funds, the legal framework, and an evaluation of the funds’ administration in Latvia, the activities of the EU structural funds for business development in the programming period 2007–2013, influence of the priority “Business development” upon business development in Latgale region, as well as future prospects are discussed. The aim of the paper is to examine the administration of EU structural funds and their influence upon business development. The subject of the research is the impact of EU funds onto business development. In the paper, the following research methods are used: the descriptive or monographic method, aggregation of information, analysis of documentation, statistical analysis, graphical, and the expert method. According to the obtained results, the authors conclude that the activities funded by the EU Structural Funds provide support for enterprises for innovative business development, and increase competitiveness of enterprises, as well as overall business activity.

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