The Role of Government and Alternative Policy Options

This chapter examines public policy toward venture capital. Broadly classified, public policies toward venture capital come in one of two primary forms: (1) law (which can be categorized further into taxation, securities law, and other types of laws for facilitating entrepreneurship and entrepreneurial finance) and (2) direct government investment schemes. Table 9.1 provides an overview of a wide range of policy alternatives that fit within each of these two categories. In this chapter, we briefly review the properties, benefits, and drawbacks of these different policies, with a focus on the following topics that are reviewed in this order: taxation, securities regulation, other regulations ...

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