|
|
|
|
||||
|
||||
When Are Venture Capital Projects Initiated?Yong LiState University of New York at Buffalo Joseph T. MahoneyUniversity of Illinois September 18, 2009 Journal of Business Venturing, Forthcoming Abstract: This paper examines how public market information relates to the initiation of venture capital projects. Analysis of venture capital investments in the U.S. between 1980 and 2007 indicates that venture capitalists tend to defer new investment projects in target industries with substantial market volatility. This delay effect of market volatility is reduced if the target industry experiences high sales growth or if competition among venture capitalists is intense in the target industry. The paper provides further evidence to corroborate the view that venture capitalists rationally respond to market shifts in their investment decisions.
Number of Pages in PDF File: 44 Keywords: Venture capital, real options, investment timing, uncertainty, growth, and competition JEL Classification: G24, M13 Accepted Paper SeriesDate posted: February 20, 2008 ; Last revised: April 8, 2012Suggested CitationContact Information
|
|
||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo2 in 0.719 seconds
