Geography and Industry Meets Venture Capital

34 Pages Posted: 2 Apr 2007

See all articles by Yochanan Shachmurove

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: March 30, 2007

Abstract

Do certain regions inherently enjoy an advantage in venture capital investment decisions? And how do industry characteristics affect venture capital activity? These questions fall under the reemerging study of economic geography, which suggests the importance of industrial location to economic decision making. Through the lens of economic geography, this paper examines the impact of industrial and regional characteristics on venture capital activities from 1996 to 2005. Analyzing venture capital data with nineteen regions and seventeen industries, this study affirms the significance of geography and industry to investment trends in venture capital.

Keywords: Venture Capital, Venture-Backed Public Companies, 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

Suggested Citation

Shachmurove, Yochanan, Geography and Industry Meets Venture Capital (March 30, 2007). PIER Working Paper No. 07-015. Available at SSRN: https://ssrn.com/abstract=977989 or http://dx.doi.org/10.2139/ssrn.977989

Yochanan Shachmurove (Contact Author)

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

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The University of Pennsylvania - Department of Economics ( email )

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