We empirically compare the contributions of venture capital (VC) and private equity (PE) backed firms, including those backed by government subsidized Innovation Investment Funds (IIFs), in the Australian economy by analyzing employment, R&D, patents, time to IPO, and market capitalization from...

This paper investigates how early termination of venture capital (VC) investment in entrepreneurial ventures affect the ability of these young ventures into acquiring further resources necessary for survival and growth. We propose that young entrepreneurial ventures face a higher cost of...

Using a sample of 91,020 VC investments in the US, we study whether religiosity influences VC investment decisions. Based on prior literature that finds a positive relation between religiosity and risk aversion we posit that VC located in more religious counties make less risky investments. We...

This paper presents evidence about the shortfall of venture capital in Canada relative to comparable regions in the United States, despite massive government spending on governmental venture capital programs in Canada. The Government of Canada committed $500 million towards venture capital in...

We review statistical methods used to estimate the impact of crowding out of private venture capital by government venture capital. We review three types of failures that have plagued the venture capital literature and resulted in policy implications that are precisely the opposite of what the...

The main strategic objective of bank-affiliated venture capital funds (BVCs) is to enhance demand of debt capital from portfolio companies. This paper investigates the channels through which banks pursue such a strategy. Using detailed data from seven Western European countries in the period...

This paper provides theory and evidence relating information asymmetries and agency costs to exit outcomes in venture capital backed entrepreneurial firms. Where venture capitalists are able to better mitigate information asymmetries and agency costs faced by the new owners of the firm, they...

In 2005, the Government of Ontario, Canada, announced the phase out of the Labour Sponsored Venture Capital Corporation (LSVCC) tax credit, which will be become effective in 2011. Some media attention has suggested this might lead to difficulty for Ontario entrepreneurs and emerging firms in...

In this chapter, we present worldwide VC investment, exit and initial public offering (IPO) data up to 2010. Also, we focus on investment activity at the local level with reference to data from Canada and the U.S. We provide statistics which highlight how differences in investment and IPO exit...

We empirically compare the contributions of venture capital (VC) and private equity (PE) backed firms, including those backed by government subsidized Innovation Investment Funds (IIFs), to the Australian economy by analyzing employment, R&D, patents, time to IPO, and market capitalization from...