This book offers a new explanation why venture capital in investments differ substantially between countries. Recent literature has attributed these differences to differences in the financial architecture and tax regulations. By contrast, this book shows by using simulations of a general...

Lea Immel prepared this study while she was working at the Research Group Taxation and Fiscal Policy at the ifo Institute. The study was completed in September 2020 and accepted as doctoral thesis by the Department of Economics at the University of Munich. It consists of four distinct empirical...