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...

This Article examines a third exit option in venture capital to supplement IPOs and trade sales: secondary markets for the sale of individual ownership interests in start-ups and venture capital (VC) funds. While investors can readily buy shares in publicly-traded companies, until recently they...

The venture capital market is characterized by personal interactions between VC firms and the startups they finance. Yet we have little systematic evidence of how startup founders get matched with partners at VC firms. By assembling data at the individual partner and founder level, we compare...

La actividad emprendedora contribuye al crecimiento económico generando riqueza, desarrollo social, introduciendo innovación y mejorando la rivalidad y la competencia en el mercado. Sin embargo, a pesar de la relevancia de la actividad emprendedora, las empresas en su fase inicial a menudo...

Although nascent ventures have not yet developed a performance-based reputation, the individual reputations of their founders, based on the performance of their earlier ventures, can function as important signals to investors. Selection system theory distinguishes between different types of...

As hotbeds for techno­logical innovation, university research labs create groundbreaking innovations that have been at the heart of many successful entrepreneurial ventures. But powerful ideas do not neces­sarily beget successful companies; great ideas must be identified, acquired, and...

We study how entrepreneurs evaluate the ability of different U.S. venture capitalists (VCs) to add value to start-up companies. Analyzing a large dataset on entrepreneurs' stated preferences on VCs, we show that entrepreneurs view independent partnership VCs more favorably than other VC types...

Corporate venturing is an important avenue of growth for many large established firms, but its results remain mixed. Previous studies suggest that ventures can be best managed through a separate unit that is responsible for all phases in the venturing process. That is for incubation, validation...

How corporate ventures should be managed inside an organization is an intriguing question that has kept many researchers and practitioners occupied. The most basic idea is that raising ventures is different from mainstream activities and should therefore be organized in autonomous New Venture...