Venture Capital Meets Industrial Sector and Location

Emanuel Shachmurove () and Yochanan Shachmurove
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Emanuel Shachmurove: Emanuel Shachmurove, Esq.

PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania

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; Media and Entertainment; Medical Devices and Equipment; Networking and Equipment; Retailing and Distribution; Semiconductors; Software; Telecommunications (search for similar items in EconPapers)
JEL-codes: C12 D81 D92 E22 G12 G24 G3 M13 M21 O16 O3 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2009-04-01
New Economics Papers: this item is included in nep-ent
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Persistent link: https://EconPapers.repec.org/RePEc:pen:papers:09-042

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