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First-Round Entrepreneurial Investments: Where, When and Why?

Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2011

This paper examines the where, when and why of first round entrepreneurial investment activity in the United States from the first quarter of 1995 until the second quarter of 2010. The paper analyzes these venture capital investments taking into consideration the role of macroeconomic variables,...

Persistent link: https://www.econbiz.de/10009144174

Location, Location, Location: Entrepreneurial Finance Meets Economic Geography

Shachmurove, Emanuel; Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2010

Economic Geography maintains that economic activities are not randomly distributed across space. This paper examines the impact of industrial and regional characteristics on venture capital activities in the United States from 1995 until 2009. The unique database allows for stratifications into...

Persistent link: https://www.econbiz.de/10008642388

Annualized Returns of Venture-Backed Public Companies Categorized by Stage of Financing: An Empirical Investigation of IPOS in the Last Three Decades

Shachmurove, Yochanan - In: Journal of Entrepreneurial Finance 6 (2001) 1, pp. 44-58

Although the national media has given increased attention to the venture capital process, misconceptions continue to proliferate. One often hears about the incredible capital gains of IPO share prices. This paper refutes the myth that investors demand very high rates of return to compensate for...

Persistent link: https://www.econbiz.de/10010790657

Sustainable effects of technological progress and trade liberalization

Shachmurove, Yochanan; Spiegel, Uriel - In: Economic Modelling 33 (2013) C, pp. 956-964

This paper examines the controversy involving international trade by employing a simple model. It analyzes the effects of unilateral technological improvements in one entity on the welfare of that entity and its trading partners. Improvements in one country are irreversible and lead to...

Persistent link: https://www.econbiz.de/10010737993

Are All Technological Improvements Beneficial? Absolutely Not

Shachmurove, Yochanan; Spiegel, Uriel - Department of Economics, University of Pennsylvania - 2013

This paper shows, using a simple model, that wasteful innovations may result in a loss-loss situation where no country experiences an increase in welfare. If some countries introduce innovations that result in harmful effects on other countries, it may cause the adversely affected countries to...

Persistent link: https://www.econbiz.de/10010822882

Annualized Returns of Venture-Backed Public Companies Categorized by Stage of Financing: An Empirical Investigation of IPOS in the Last Three Decades

Shachmurove, Yochanan - In: Journal of Entrepreneurial Finance 6 (2001) 1, pp. 44-58

Persistent link: https://www.econbiz.de/10011310374

Economic Geography, Venture Capital and Focal Points of Entrepreneurial Activity

Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2009

Economic geography receives limited consideration in the venture capital literature. This study utilizes thirty years of data concerning companies that initially were backed by venture capital. These firms are located in Entrepreneurial Focal Points in the United States, namely: California,...

Persistent link: https://www.econbiz.de/10004967185

U.S. Venture Capital Meets Clean-Technology

Shachmurove, Emanuel; Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2009

last several years, leading to increased demand for environmentally friendly products. Additionally, the price of Clean-Technology … products has fallen. This paper examines venture capital investment in the Clean-Technology industry of the U.S. in 1995 …-2008. The paper explores the effects of macroeconomic variables, national venture capital investment and geography on Clean-Technology …

Persistent link: https://www.econbiz.de/10008502074

Venture Capital Meets Industrial Sector and Location

Shachmurove, Emanuel; Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2009

This paper examines venture capital investment activity in the United States during the period 1995 to the first quarter 2009, taking into consideration both location and industry sector. The research question is whether industry and region are important factors in determining venture capital...

Persistent link: https://www.econbiz.de/10008502076

Énvironmental Economics and Venture Capital

Shachmurove, Emanuel; Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2010

What are the effects of macroeconomic variables on venture-backed capital investment in environmentally friendly industries in the United States? What is the significance of location in determining both the number of deals and amount of investment by venture capital in the Clean-tech industry?...

Persistent link: https://www.econbiz.de/10008456512