ENTREPRENEURIAL CULTURE, FAMILY BUSINESS AND NEW INTERNATIONAL MARKETS. THE IMPORTANCE OF INSTITUTIONS STRATEGY AS ATTRACTION FOR VENTURE CAPITALIST

This paper wants to investigate whether Institution strategy enforced during financial crisis have been able to attract venture capitalist. Furthermore we study the potential impact of an active venture capital market over family business firms’ growth overall in international perspective. Due to the global economy crisis, the persisting financial difficulties of Euro area, the weak recovery in several other advanced economies (e.g. United States), the expected slowdown in economic growth in China, India, as well as the other elements composing the BRIC’s acronym due to the high volatility among financial markets, policy maker are still facing the following question: “which regions can drive growth and employment creation in the short to medium term?” (The Global Competitiveness Report: 2012/2013). For this reason governments tried to encourage entrepreneurship in order to boost economic growth and job creation; however young entrepreneurial firms have difficulties in rising funds from equity investors and banks, due to the high level of conflicts of interest among the two categories. Since an active venture capital market can boost economic growth and solve asymmetric information problems, we can understand immediately the potential link between those three categories.