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Venture Capital Meets Industrial Sector and LocationEmanuel ShachmuroveIndependent Yochanan ShachmuroveThe City College of The City University of New York - Department of Economics; The University of Pennsylvania - Department of Economics April 1, 2009 PIER Working Paper No. 09-042 Abstract: 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 investment. Furthermore, the paper explores the effects of macroeconomic variables on investment activity. Consequently, the venture capital data are augmented by Gross Domestic Product (GDP), Federal Funds Rate, three, five and ten year interest rates. By examining long term trends, the effect of the current economic crisis on venture capital investment may be better understood.
Number of Pages in PDF File: 12 Keywords: Venture Capital, Economic Geography, Location, Biotechnology, Business Products and Services, Computers and Peripherals, Consumer Products and Services, Electronics and Instrumentation, Financial Services, Healthcare Services, Industrial and Energy, Information Technology Services JEL Classification: C12, D81, D92, E22, G12, G24, G3, M13, M21, O16, O3 working papers seriesDate posted: December 3, 2009Suggested CitationContact Information
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