Venture Capital Meets Industrial Sector and Location

12 Pages Posted: 3 Dec 2009

See all articles by Emanuel Shachmurove

Emanuel Shachmurove

Independent

Yochanan Shachmurove

City University of New York, CUNY City College of New York - Department of Economics; The University of Pennsylvania - Department of Economics

Date Written: April 1, 2009

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.

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

Suggested Citation

Shachmurove, Emanuel and Shachmurove, Yochanan, Venture Capital Meets Industrial Sector and Location (April 1, 2009). PIER Working Paper No. 09-042. Available at SSRN: https://ssrn.com/abstract=1515743 or http://dx.doi.org/10.2139/ssrn.1515743

Emanuel Shachmurove

Independent ( email )

56 Trent Road
Wynnewood, PA 19096
United States

Yochanan Shachmurove (Contact Author)

City University of New York, CUNY City College of New York - Department of Economics ( email )

160 Convent Avenue
New York, NY 10031
United States
212-650-6202 (Phone)

The University of Pennsylvania - Department of Economics ( email )

Ronald O. Perelman Center for Political Science
133 South 36th Street
Philadelphia, PA 19104-6297
United States
215-898-1090 (Phone)
215-573-2057 (Fax)

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