The nature and extent of complementarities between the informal and formal venture capital markets has been the subject of limited research. In the United States, complementarity has been demonstrated in terms of both size of investment and stage of business development: angel investors dominate...

Most studies of the impact of mergers and acquisitions suggest they have a detrimental impact on economic development in peripheral regions over the longer-term. However, such assessments fail to consider the post-acquisition behaviour of the cashed-out entrepreneurs. It is argued here that...

Much of the government intervention into the market 'gap' for start-up and early-stage equity finance in the UK is based on the belief that the problem is on the supply side. Based on an analysis of the informal venture capital market this paper argues that there is no shortage of finance...

There is a substantial literature on the relationship between gender and access to finance. However, most studies have been concerned with access to debt finance. More recently, the focus of this research has broadened to examine women and venture capital. This article extends the focus further...

There is a widespread concern in both the UK and in the European Union that technology-based firms encounter difficulties in raising venture capital at their start-up and early growth stages. This, in turn, reflects the perception amongst investors that investments in technology-based firms...

Freel M. S. and Harrison R. T. (2006) Innovation and cooperation in the small firm sector: evidence from 'Northern Britain', Regional Studies 40, 289-305. Over the last 20 years, network-based models of innovation-led economic development have grown increasingly popular to both the polity and...

The business angel market is usually identified as a local market, and the proximity of an investment has been shown to be key in the angel's investment preferences and an important filter at the screening stage of the investment decision. This is generally explained by the personal and hence...

A national minimum wage (NMW) was introduced into the United Kingdom in 1999 as part of New Labour's active labour-market approach. The level has been uprated on several occasions since then. Most research suggests that the NMW has benefited low-paid workers while having little adverse impact on...

Despite growing interest in venture capital, there is a paucity of information on the rate of return to these investments and the limited research that is available refers almost entirely to portfolio returns for venture capital funds. The investment returns to business angels have been...

The role of venture capital in economic development increasingly is recognized as central to the development of an entrepreneurial economy. However, the supply of venture capital is not distributed evenly across the space economy. In the UK, evidence for the 1980s demonstrated that venture...