Incertitude, rationalité et confiance dans les choix d'investissement: Une analyse de la relation entre marchés financiers et capital-risque

Eric Nasica and Dominique Dufour

Revue d'économie industrielle, 2007, vol. n° 119, issue 3, 5-5

Abstract: The literature dedicated to the determinants of venture capital insists on the positive relation existing between the amount of capital invested in this activity and the situation prevailing on financial markets. However, during last years, the relation between financial markets and venture capital investments appears much less clear: recent behaviors observed in venture capital markets seem to be strongly and durably disconnected from the evolution of financial markets. We chose to explain this phenomenon by basing our analysis on an essential ? but generally neglected in the literature ? element: the specific form of rationality adopted by venture capitalists in their investment decisions.

Keywords: Venture Capital; Bounded Rationality; Availability Heuristics; Confidence (search for similar items in EconPapers)
Date: 2007
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