Newservices in a new economy: the role of venture capital in a knowledge based society
Author:Lector dr. Radu Muşetescu
JEL:
DOI:
Keywords:eventure capital innovation
knowledge knowledge based
society
Abstract:
The present article argues that the
development of a knowledge based society
has a powerful impact in the role played
by the financial sector in an economy as
the services supplied by the traditional
financial institutions - the commercial
bank and the stock exchange - are seriously
challenged by the present reality. In
such a context, a new type of financial
intermediary - the venture capital fund -
knows an explosive growth, being directly
linked to the proliferation of the new type
of economic system. The development of
the venture capital funds will not cause the
disappearance of the traditional financing
sources as this new financial actor „fills a
gap“ in the financial system, which is
developed in the present day form during
the Industrial Age. The maturation of the
venture capital industry is the financial
equivalent of the proliferation of the
knowledge based society.