First-Round Entrepreneurial Investments: Where, When and Why?
The City College of The City University of New York - Department of Economics; The University of Pennsylvania - Department of Economics
June 25, 2011
PIER Working Paper No. 11-017
This paper examines the where, when and why of first round entrepreneurial investment activity in the United States from the first quarter of 1995 until the second quarter of 2010. The paper analyzes these venture capital investments taking into consideration the role of macroeconomic variables, region, and industry. Additionally, trends in regional and industrial investments are evaluated using statistical and graphical analyses. By studying these findings, we are able to understand the impact of different periods of economic growth on venture capital investments. Lastly, the shock of the dot.com bubble and recent financial crisis are integrated into the findings.
Number of Pages in PDF File: 35
Keywords: Venture Capital, First Round of Financing, Innovations; Inventions, 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
JEL Classification: C12, D81, D92, E22, G12, G24, G3, M13, M21, O16, O3working papers series
Date posted: June 27, 2011
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo2 in 0.453 seconds