While many parts of the financial systems are becoming increasingly commoditized, there is a concurrent trend towards greater specialization of financial intermediaries, especially in information-intensive market segments. This paper examines the impact of this specialization, focusing on venture capital. We use a unique hand-collected dataset on European venture capital deals that includes det...

Venture capital has been one of the major drivers of the U.S. economy. Using the State of the Inner City Economies database of the Initiative for a Competitive Inner City, we found that secondary cities – which we have defined as cities outside the 40 largest U.S. metro areas – have received far less than their proportionate share of private equity deals and dollars. By failing to attract capit...

The social capital and human capital have been conceptualized as key resources that may facilitate the performance of new ventures. Yet, despite a surge of studies examining the role of social capital and human capital in the entrepreneurial process, no quantitative assessments have been made of the empirical evidence to date. In an effort to systematically review past research results, I condu...

Venture capital industry in Singapore is of recent origin. However, funds under management in Singapore have grown from S$ 45 million in 1983 to S$ 7300 million in 1995. These developments together with the recent announcement of government’s vision of Singapore becoming a hub for venture capital in the region, provides an opportunity for an examination of the venture capital industry in Singap...

This thesis investigates the application of computational analytics to the domain of venture finance — the deployment of capital to high-risk ventures in pursuit of maximising financial return. Traditional venture finance is laborious and highly inefficient. Whilst high street banks approve (or reject) personal loans in a matter of minutes It takes an early-stage venture capital (VC) firm month...

The author describes the methodology for assessing the suitability of tax and legal environment for the development of private equity and venture capital industry, designed by the European Venture Capital Association (EVCA). She applies this method to assess the tax and legal environment in Croatia. The results reveal that, according to the total composite score, Croatia belongs to the group of...

Most potential funders wish to see a business plan as a first step in deciding whether or not to invest. However, much of the literature on how to write a business plan fails to emphasize that different types of funder look at business plans from different perspectives. Using a real time methodology this article highlights the different investment criteria of bankers, venture capital fund manag...

We use the venture capital market to examine two phenomena: “grandstanding” by relatively inexperienced venture capital firms and the effect of proximity on soft information production. We show that these phenomena are closely related. Inexperienced VC firms—those with the strongest incentives to grandstand— tend to match with young and small companies within close proximity, presumably to enha...

Does venture capital foster productive innovation, and if so, how? Is the impact of venture capital on innovation very large? These questions are not only of theoretical interest: answering them correctly is crucial for designing the best public policies on innovation. Although it accounts for a rather low proportion of total entrepreneurial financing, notably compared to bank finance1, venture...

In general, corporations in high-tech industries pursue Corporate Venture Capital investments for financial and strategic objectives. In particular, a large number of corporations have invested in e-business ventures in order to enhance innovation and entrepreneurship within the firm’s network. The achievement of strategic objectives is often comparatively difficult to measure and may take seve...