Private Equity in Estonia: Factors Shaping Investor Attraction
Abstract: This paper looks at the current state of the Estonian private equity market by identifying the main obstacles for attracting private investment as well as the strongest attractors. The research consists of a qualitative survey of the relevant stakeholders operating on the market. We identify the main obstacles and attractors and assess their importance as well as discuss potential improvements for the development of private equity in Estonia. The size of the Estonian economy and the opportunities provided by the stock market are identified as the main obstacles while the level of corporate taxation and foreign language skills of the population are the strongest attractors. Relaxing the restrictions on Estonian pension fund investments as well as education of entrepreneurs on private equity opportunities are some of the steps that should be taken to improve the attractiveness of the Estonian private equity market.
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