Twelve Meditations on Venture Capital: Some Heretical Observations on the Dissonance between Theory and Practice When Applied to Public/Private Collaborations on Entrepreneurial Finance Policy

33 Pages Posted: 11 Nov 2009

See all articles by Gordon C. Murray

Gordon C. Murray

University of Exeter Business School

David C. Lingelbach

Stevenson University; Johns Hopkins University

Date Written: November 9, 2009

Abstract

This paper reflects on the policy formation process in the burgeoning area of early-stage, venture capital finance. An important question is raised as to why so little extant academic research, of both rigor and relevance, is employed in policy formation. The authors argue that the long term, international and comparative perspective of the academic researcher is of increasing importance in government. The gap between policy practice and academic empiricism is illustrated by reference to contemporary policy interest in the creation of public/private (‘hybrid’) venture capital funds. The rubric of Twelve Meditations is employed as a device to communicate across the academic/policy maker divide.

Keywords: venture capital, entrepreneurship, entrepreneurial finance, public policy, hybrid funds

JEL Classification: M13, M21, H3, H4

Suggested Citation

Murray, Gordon C. and Lingelbach, David C., Twelve Meditations on Venture Capital: Some Heretical Observations on the Dissonance between Theory and Practice When Applied to Public/Private Collaborations on Entrepreneurial Finance Policy (November 9, 2009). Available at SSRN: https://ssrn.com/abstract=1502643 or http://dx.doi.org/10.2139/ssrn.1502643

Gordon C. Murray (Contact Author)

University of Exeter Business School ( email )

Streatham Court
Rennes Drive
Exeter EX4 4PU
United Kingdom
+44 777 522 0857 (Phone)

HOME PAGE: http://business-school.exeter.ac.uk/staff/profile.php?id=34

David C. Lingelbach

Stevenson University ( email )

100 Campus Circle
Owings Mills, MD 21117
United States

Johns Hopkins University ( email )

720 Rutland Avenue
Baltimore, MD 21205-2196
United States

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