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Propagation of financial shocks : the case of venture capital

Townsend, Richard R. - 2012

This paper investigates how venture-backed companies are affected when others sharing the same investor suffer a negative shock. In theory, companies may be helped or hurt in this scenario. To examine the topic empirically, I estimate the impact of the collapse of the technology bubble on...

Persistent link: https://www.econbiz.de/10009625389

A Tale of Two Crises : Venture Capital Funding During the Global Financial Crisis and Covid-19 Pandemic

Niculaescu, Corina E.; Sangiorgi, Ivan; Bell, Adrian R. - 2023

We examine the drivers of venture capital financing raised by companies in 162 countries over 22 years from 2000 to 2021, using a novel combination of two venture capital databases Crunchbase and Refinitiv (previously known as VentureXpert). We show that at the firm level companies raise less...

Persistent link: https://www.econbiz.de/10014349611

What is the Effect of the Financial Crisis on Venture Capital Financing? Empirical Evidence from US Internet Start-Ups

Block, Jörn - 2014

Employing a large dataset of venture capital investments in US Internet firms, we analyze the effect of the current financial crisis on the venture capital market. Using regression analysis, we find that the financial crisis is associated with a 20% decrease in the average amount of funds raised...

Persistent link: https://www.econbiz.de/10012708367

Venture Capital and the Financial Crisis : An Empirical Study Across Industries and Countries

Block, Jörn - 2015

This study analyzes the effect of the 2008 financial crisis on the venture capital market. We show that the crisis is associated with a decrease in the number of initial funding rounds as well as with a decrease in the amount of funds raised in later funding rounds. The effects of the crisis...

Persistent link: https://www.econbiz.de/10013039162

Venture Capital Investment Strategies Under Financing Constraints : Evidence from the 2008 Financial Crisis

Conti, Annamaria - 2019

This paper employs the 2008 financial crisis as an empirical setting to examine how investment strategies of venture capitalists (VCs) vary in the presence of a liquidity supply shock, and what the performance implications of these strategies are for their portfolio startups. We show that while,...

Persistent link: https://www.econbiz.de/10012903323

Venture Capital Beyond the Financial Crisis : How Corporate Venturing Boosts New Entrepreneurial Clusters (and Assists Governments in Their Innovation Efforts)

McCahery, Joseph A. - 2014

In his book, 'Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed - and What to Do about It,' Harvard Business School Professor, Josh Lerner, explains that governments can only play a limited role in spurring innovation and entrepreneurship....

Persistent link: https://www.econbiz.de/10013069799

Venture Capital Funding in the Middle of the Year 2011 : Are We Back to Pre-Crisis Boom Levels?

Block, Jörn - 2014

The 2009 financial crisis had a severe impact on the venture capital market. This brief article summarizes the empirical evidence as regards the effect of the financial crisis on venture capital financing. Further, the article analyzes, whether now, in the middle of 2011, the venture capital...

Persistent link: https://www.econbiz.de/10013067517

Venture Capital Syndication in Times of Economic Crisis

Vries, Geertjan de - 2011

This study analyzes the effects of the 2000-2001 dot-com crisis and the 2008-2009 financial crisis on venture capital syndication. Using propensity score matching analysis, we show that during the two crises, VCFs had a lower tendency to syndicate their investments, and the size of the...

Persistent link: https://www.econbiz.de/10013133390

Can capital ratios be the centre of banking regulation : a case study

Marinova, Milena - In: European financial and accounting journal : EFAJ 4 (2009) 4, pp. 8-34

The application, or to be more precise, the misapplication of securitization in the mortgage market had fatal consequences for the financial sector worldwide. More over securitization techniques enabled single banks to reduce their individual risk while at the same time transferred greater risk...

Persistent link: https://www.econbiz.de/10011459525

Bank profitability, leverage constraints, and risk-taking

Martynova, Natalya; Ratnovski, Lev; Vlahu, Razvan - 2019

Traditional theory suggests that higher bank profitability (or franchise value) dissuades bank risk-taking. We … highlight an opposite effect: higher profitability loosens bank borrowing constraints. This enables profitable banks to take … risk on a larger scale, inducing risk-taking. This effect is more pronounced when bank leverage constraints are looser, or …

Persistent link: https://www.econbiz.de/10012020122

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