Cumming, Douglas J.; Johan, Sofia Atiqah - In: Journal of small business management : JSBM ; a joint … 48 (2010) 2, pp. 228-257
This paper examines cross-country evidence on the duration of venture capital (VC) investment. We formulate a theory of … VC investment duration based on the idea that venture capitalists exit when the expected marginal cost of maintaining the … investment is greater than the expected marginal benefit, and thereby relate VC investment duration to entrepreneurial firm …