What lures cross-border venture capital inflows?

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What lures cross-border venture capital inflows? / Schertler, Andrea Gisela; Tykvová, Tereza.
In: Journal of International Money and Finance, Vol. 31, No. 6, 10.2012, p. 1777-1799.

Research output: Journal contributionsJournal articlesResearchpeer-review

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Schertler AG, Tykvová T. What lures cross-border venture capital inflows? Journal of International Money and Finance. 2012 Oct;31(6):1777-1799. doi: 10.1016/j.jimonfin.2012.03.012

Bibtex

@article{99a6959d3cf64f7fb64372a85eda8bea,
title = "What lures cross-border venture capital inflows?",
abstract = "We investigate if economic factors drive gross and net cross-border venture capital inflows differently. Using a dataset of venture capital investments in European and North American countries from 2000 to 2008, we find that higher expected economic growth goes hand in hand with higher gross as well as net inflows, while higher market capitalization and a more favorable environment for venture capital intermediation entail higher gross inflows, but lower net inflows. The latter two findings may suggest that cross-border venture capital inflows partly compensate for potential limits in domestic venture capital supply. However, the findings may also reflect that venture capitalists{\textquoteright} locational decisions depend on the viability of capital markets.",
keywords = "Entrepreneurship, Economic factors, Gross and net cross-border inflows, Internationalization, Venture capital, Management studies",
author = "Schertler, {Andrea Gisela} and Tereza Tykvov{\'a}",
year = "2012",
month = oct,
doi = "10.1016/j.jimonfin.2012.03.012",
language = "English",
volume = "31",
pages = "1777--1799",
journal = "Journal of International Money and Finance",
issn = "0261-5606",
publisher = "Elsevier B.V.",
number = "6",

}

RIS

TY - JOUR

T1 - What lures cross-border venture capital inflows?

AU - Schertler, Andrea Gisela

AU - Tykvová, Tereza

PY - 2012/10

Y1 - 2012/10

N2 - We investigate if economic factors drive gross and net cross-border venture capital inflows differently. Using a dataset of venture capital investments in European and North American countries from 2000 to 2008, we find that higher expected economic growth goes hand in hand with higher gross as well as net inflows, while higher market capitalization and a more favorable environment for venture capital intermediation entail higher gross inflows, but lower net inflows. The latter two findings may suggest that cross-border venture capital inflows partly compensate for potential limits in domestic venture capital supply. However, the findings may also reflect that venture capitalists’ locational decisions depend on the viability of capital markets.

AB - We investigate if economic factors drive gross and net cross-border venture capital inflows differently. Using a dataset of venture capital investments in European and North American countries from 2000 to 2008, we find that higher expected economic growth goes hand in hand with higher gross as well as net inflows, while higher market capitalization and a more favorable environment for venture capital intermediation entail higher gross inflows, but lower net inflows. The latter two findings may suggest that cross-border venture capital inflows partly compensate for potential limits in domestic venture capital supply. However, the findings may also reflect that venture capitalists’ locational decisions depend on the viability of capital markets.

KW - Entrepreneurship

KW - Economic factors

KW - Gross and net cross-border inflows

KW - Internationalization

KW - Venture capital

KW - Management studies

UR - http://www.scopus.com/inward/record.url?scp=84862009399&partnerID=8YFLogxK

U2 - 10.1016/j.jimonfin.2012.03.012

DO - 10.1016/j.jimonfin.2012.03.012

M3 - Journal articles

VL - 31

SP - 1777

EP - 1799

JO - Journal of International Money and Finance

JF - Journal of International Money and Finance

SN - 0261-5606

IS - 6

ER -