Effect of General Uncertainty on Venture-Capital Investments: A Cross-Country Study

Rajeev Goel, Iftekhar Hasan and Rati Ram ()
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Rati Ram: Economics Department, Illinois State University, Postal: 100 N University St # 142 Normal IL 61761-4402 USA, http://www.cob.ilstu.edu/

Economia Internazionale / International Economics, 2004, vol. 57, issue 3, 305-313

Abstract: Using panel data for 19 OECD countries covering the period 1986-1995, we find effect of general economic uncertainty on venture-capital investments to be significantly negative. The more irreversible late-stage venture-capital investments are much more adversely affected by such uncertainty than earlystage investments.

Keywords: Venture-capital; Investment irreversibility; Uncertainty (search for similar items in EconPapers)
JEL-codes: E20 G10 O50 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0129

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