Venture Capital and Financial Organisation: London and South Africa in the Nineteenth Century

Stanley D. Chapman

Chapter 2 in Banking and Business in South Africa, 1988, pp 27-45 from Palgrave Macmillan

Abstract: Abstract The American comedian Bob Hope once defined a bank as ‘a place that will lend you money if you can prove that you don’t need it’.1 Interpreting his quip, we might say that a bank is a financial institution that conventionally avoided taking significant risk; historians have traced a long succession of ‘lock-ups’ of bank capital that have brought the unwary to their knees and generated the conventional wisdom behind bank policy.2 But it is equally clear that for generations this caution left a large gap in national and international money markets, that of supplying capital for investment where there is recognised to be significant risk. This sector of the market is now known as the venture capital market, and it is important to recognise that it has a history of its own.

Keywords: Financial Organisation; Venture Capital; Investment Group; Venture Capital Market; Exploration Company (search for similar items in EconPapers)
Date: 1988
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09632-9_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349096329

DOI: 10.1007/978-1-349-09632-9_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().