What lures cross-border venture capital inflows?
نویسندگان
چکیده
منابع مشابه
What Lures Cross-Border Venture Capital Inflows?
The change in the business model of venture capitalists from investing locally towards investing across borders started to intensify in the late 1990s. According to a dataset of European and NorthAmerican countries, we find that countries with higher expected growth and higher lagged stock market returns receive larger net cross-border venture capital inflows. Thus, portfolio companies located ...
متن کاملCross - Border Bank Mergers : What Lures the Rare Animal ?
Although domestic mergers and acquisitions (M&As) in the financial services industry have increased steadily over the past two decades, international M&As were relatively rare until recently. This paper uses a novel dataset of over 2,300 mergers that took place between 1978 and 2001 to analyse the determinants of international bank mergers. We test the extent to which information costs and regu...
متن کاملDo networks of financial intermediaries help reduce local bias? Evidence from cross-border venture capital exits
Field Editor: N. Coviello Contributing to the literature on local bias and financial networks, we examine how direct and indirect network ties of financial intermediaries mitigate the effects of distance and preference for local investments. In our analysis of cross-border venture capital exits, we find that proximity within networks facilitates cross-border transactions, which suggests that ne...
متن کاملWhat Do Entrepreneurs Pay for Venture Capital Affiliation?
This study empirically evaluates the certification and value-added roles of reputable venture capitalists (VCs). Using a novel sample of entrepreneurial start-ups with multiple financing offers, I analyze financing offers made by competing VCs at the first professional round of start-up funding, holding characteristics of the start-up fixed. Offers made by VCs with a high reputation are three t...
متن کاملA pecking order of venture capital exits - What determines the optimal exit channel for venture capital backed ventures?
I develop a model of exits from venture capital backed companies based on moral hazard. The focus is on two alternatives: a trade sale and an IPO. The alternatives differ in their governance structure. The model shows that highly profitable companies that need few oversight will go public, while less profitable companies that require more control will be sold. This suggests that the common noti...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2012
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2012.03.012