scholarly journals 2003: What lessons for European biotechnology?

10.5912/jcb87 ◽  
2004 ◽  
Vol 10 (4) ◽  
Author(s):  
M S Fazeli
Keyword(s):  
Venture Capital ◽  
Biotechnology Industry ◽  
Equity Capital ◽  
Public Markets ◽  
Level Of Activity ◽  
Risk Appetite ◽  
The Us ◽  
The Usa ◽  
Liberal Attitude ◽  
Biotechnology Sector

The biotech sector had a sizzling year last year, raising US$19bn in cash globally. This paper looks at the performance of the biotechnology sector on both sides of the Atlantic in terms of financing activity. Financing activity in the European biotechnology industry is still a long way off from the USA, with public fundraising only reaching the level that the USA had in 1997 and venture capital financings getting close to the US levels of 1994–95. This suggests that at least another five to eight years is needed before there is even a chance to get near where the USA is today. However, the sheer size of the US equity capital market and its liberal attitude to fundraisings and higher-risk appetite is likely to mean that European biotechs will never catch up with the USA, even if our science (across the whole of Europe) is as good. This does not mean that Europe cannot have a thriving biotechnology industry. Indeed, the current level of activity in the venture capital and public markets suggests that Europe is only just getting serious on biotechnology.

Spatial collocation and venture capital in the US biotechnology industry

2011 ◽  
Vol 40 (9) ◽  
pp. 1188-1199 ◽  
Author(s):  
Christos Kolympiris ◽  
Nicholas Kalaitzandonakes ◽  
Douglas Miller
Keyword(s):  
Venture Capital ◽  
Biotechnology Industry ◽  
The Us

scholarly journals Trends Of Changes In The Polish Industry Innovativeness (Against The Background Of Leading World Economies)

2011 ◽  
Vol 4 (5) ◽  
Author(s):  
Adam Mazurkiewicz ◽  
Rozalia Sitkowska
Keyword(s):  
Venture Capital ◽  
Processing Industry ◽  
Us Economy ◽  
The Us ◽  
The Usa ◽  
Per Capita ◽  
Polish Economy ◽  
Business Financing ◽  
Investment Goods ◽  
The Eu

Tendencies concerning innovativeness changes in selected sectors of the Polish economy were identified in the paper. The trends were depicted against the background of the USA, Japan and the EU-15 and they comprised: public and business financing of the R&D area with reference to GDP, R&D expenditure per capita, and venture capital funds supporting innovations commercialization. The observed correlation between the financing level of the R&D area and the innovativeness level of the US economy made the basis for the analysis conducted. The analysis concentrated on trends occurring in the Polish economy in the context of industry innovativeness, in particular processing industry, including the sector of investment goods. Conclusions resulting from the analysis of innovation commercialization processes with venture capital funds were presented. Countermeasures which were taken in Poland to prevent the marginalization of financing the R&D area were demonstrated as well.

scholarly journals Multiyear patterns regarding the relative availability of venture capital for the US biotechnology industry

1969 ◽  
Vol 15 (4) ◽  
Author(s):  
J Leslie Glick
Keyword(s):  
Venture Capital ◽  
Early Stage ◽  
Coming Of Age ◽  
Personalised Medicine ◽  
Biotechnology Industry ◽  
Long Run ◽  
Start Up ◽  
The Us ◽  
Biotechnology Companies ◽  
Long Term Trends

Venture capital (VC) funding of US biotechnology companies was analysed relative to total VC investments placed in US companies from 1995 to 2007. During those years, except for a spike because of the dot-com bubble from 1999 to 2001, VC funding of US biotechnology companies grew at a faster rate percentagewise than total VC funding of US companies, with respect to annual dollars invested, number of deals closed and the mean dollar investment. Start-up and early-stage VC funding of US biotechnology companies also grew at a faster rate percentagewise, with respect to all three parameters, than total start-up and early-stage VC funding of US companies. It was further observed that long-term trends in the availability of VC for biotechnology do not appear to be affected by perturbations in the financial markets and short-term fluctuations in the availability of VC. It was concluded that the biotechnology industry should continue to attract VC over the long run particularly because of the emerging impact of personalised medicine and the coming of age of bioenergy.

Assessing venture capital industry growth in Korea

2018 ◽  
Vol 44 (1) ◽  
pp. 74-85 ◽  
Author(s):  
Hae Jin Chung ◽  
Moon Young Kang
Keyword(s):  
Venture Capital ◽  
Capital Investment ◽  
Bass Model ◽  
Industry Growth ◽  
Content Type ◽  
Government Interventions ◽  
Venture Capital Investment ◽  
The Us ◽  
The Usa ◽  
The Impact

Purpose The purpose of this paper is to investigate how the venture capital industry evolves in Korea. The paper also compares the venture capital industry growth of Korea with that of the USA. Design/methodology/approach This paper forecasts the growth of the Korean venture capital industry using the Bass Model. The authors apply the Bass Model to both Korean and US data to compare the model estimates of Korean and US data, and to make use of the US case by taking the “guess by similarity” approach to analyze Korean venture capital industry growth. Findings The authors find that the innovative fund inflows in Korea are stronger than those in the USA, while inertial reinvestments are weak. The study forecasts that new investments in Korea grow at a 5-7 percent rate each year for the next five years, and the growth rate slows down over time. Peak investment is predicted around the year 2030. Practical implications Based on the forecasted venture capital investment schedule each year, this study derives the fundraising schedule and the implications for Korea fund-of-funds management to match the investment schedule. Originality/value The model estimates provide a guideline for forecasting venture capital industry development in countries with brief histories of venture capital, which lack data. The analysis can also be applied to cases when developing countries and emerging financial markets assess the impact of government interventions on venture capital industry growth, especially when they provide fund-of-funds.

Measurement Invariance of a Universal Behavioral Screener Across Samples From the USA and Germany

2018 ◽  
Vol 34 (2) ◽  
pp. 87-100 ◽  
Author(s):  
Gino Casale ◽  
Robert J. Volpe ◽  
Brian Daniels ◽  
Thomas Hennemann ◽  
Amy M. Briesch ◽  
...  
Keyword(s):  
Measurement Invariance ◽  
Student Behavior ◽  
Cross Cultural ◽  
Cross Cultural Comparison ◽  
School Based ◽  
Cultural Research ◽  
Universal Screener ◽  
Confirmatory Factor ◽  
The Us ◽  
The Usa

Abstract. The current study examines the item and scalar equivalence of an abbreviated school-based universal screener that was cross-culturally translated and adapted from English into German. The instrument was designed to assess student behavior problems that impact classroom learning. Participants were 1,346 K-6 grade students from the US (n = 390, Mage = 9.23, 38.5% female) and Germany (n = 956, Mage = 8.04, 40.1% female). Measurement invariance was tested by multigroup confirmatory factor analysis (CFA) across students from the US and Germany. Results support full scalar invariance between students from the US and Germany (df = 266, χ2 = 790.141, Δχ2 = 6.9, p < .001, CFI = 0.976, ΔCFI = 0.000, RMSEA = 0.052, ΔRMSEA = −0.003) indicating that the factor structure, the factor loadings, and the item thresholds are comparable across samples. This finding implies that a full cross-cultural comparison including latent factor means and structural coefficients between the US and the German version of the abbreviated screener is possible. Therefore, the tool can be used in German schools as well as for cross-cultural research purposes between the US and Germany.

Sanctions of the USA and the Policy of Bank of Russia:double Blow to the National Economy

2014 ◽  
pp. 13-29 ◽  
Author(s):  
S. Glazyev
Keyword(s):  
National Security ◽  
Economic Sanctions ◽  
Capital Flight ◽  
Practical Advice ◽  
The Us ◽  
Monetary Authorities ◽  
The Usa ◽  
Simultaneous Adoption ◽  
The Eu

This article examines fundamental questions of monetary policy in the context of challenges to the national security of Russia in connection with the imposition of economic sanctions by the US and the EU. It is proved that the policy of the Russian monetary authorities, particularly the Central Bank, artificially limiting the money supply in the domestic market and pandering to the export of capital, compounds the effects of economic sanctions and plunges the economy into depression. The article presents practical advice on the transition from external to domestic sources of long-term credit with the simultaneous adoption of measures to prevent capital flight.

Russian Banking System under Conditions of Global Crisis

2009 ◽  
pp. 4-14 ◽  
Author(s):  
G. Gref ◽  
K. Yudaeva
Keyword(s):  
Banking System ◽  
Commodity Prices ◽  
Financial Sector ◽  
Banking Crises ◽  
Economic Recovery ◽  
Balance Sheets ◽  
Current Economic Crisis ◽  
Risk Appetite ◽  
The Us ◽  
The Face

Problems in the financial sector were at the core of the current economic crisis. Therefore, economic recovery will only become sustainable after taking care of the major weaknesses in the financial sector. This conclusion is relevant both for the US and UK - the two countries where crisis has started, and for other economies which financial institutions turned out to be fragile in the face of the swings in the risk appetite. Russia is one of the countries where the crisis has revealed serious deficiency in the financial sector. Our study of 11 banking crises during the last 25-30 years shows that sustainable economic recovery and decrease in the dependence on commodity prices will be virtually impossible without cleaning of balance sheets and capitalization of the financial sector.

Possibility of Using in Russia the Experience of LED Lighting Application at the USA Airfields

2019 ◽  
pp. 71-77
Author(s):  
Vladimir V. Vorozhikhin ◽  
Eugenia L. Moreva ◽  
Vladimir G. Starovoytov ◽  
Igor G. Tyutyunnik
Keyword(s):  
Air Transportation ◽  
Improve Quality ◽  
Led Lighting ◽  
The Us ◽  
The Usa ◽  
Quality And Reliability ◽  
Lighting Application

The purpose of this paper is an investigation of LEDs illumination experience at US-based aerodromes with an assessment of its feasibility and its necessity in Russia. The following methods were used: the analysis of aerodrome lighting requirements; the review and the analysis of development features in aerodrome LEDs illumination; the experience analysis of LEDs illumination of US-based aerodromes; the deductive analysis and the assessment synthesis of feasibility and necessity of US experience in LEDs illumination at Russian-based aerodromes. The following results were achieved: – The analysis of issues and opportunities was conducted for development of LEDs illumination at US-based aerodromes and of American experts’ recommendations for its use; – The cases were taken for use and assessment of development in LEDs illumination at US-based aerodromes; – The review and the analysis were conducted in relation to a developing market of LEDs illumination at Russian-based aerodromes. The main conclusion is that the US experience will improve quality and reliability of service provided in air transportation, comfort, and safety of Russian flights, as well as competitiveness of Russian- based airports and airlines (indirectly).

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