A Survey of Venture Capital Research
Marco Da Rin
Tilburg University, Department of Finance; Tilburg Law and Economics Center (TILEC); European Corporate Governance Institute (ECGI)
Thomas F. Hellmann
Saïd Business School, University of Oxford ; University of British Columbia (UBC) - Sauder School of Business; University of Oxford - Said Business School
Duke University - Fuqua School of Business; National Bureau of Economic Research (NBER)
October 12, 2011
TILEC Discussion Paper No. 2011-044
CentER Discussion Paper Series No. 2011-111
This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services and exits. The survey considers recent work on organizational structures of venture capital firms, and the relationship between general and limited partners. It discusses the work on the returns to venture capital investments. It also examines public policies, and the role of venture capital in the economy at large.
Number of Pages in PDF File: 136
Keywords: Venture capital, private equity, alternative assets, IPOs, acquisitions, corporate venture capital, public policy, limited partners, institutional investors, syndication, innovation, venture capital returns
JEL Classification: G24, G21, G23
Date posted: October 13, 2011
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