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Rivalry and the dynamic instability of venture capital investment shares

T. Ballinger (), Bradley Ewing () and Mark A. Thompson

Applied Economics Letters, 2013, vol. 20, issue 12, 1150-1154

Abstract: This article examines the time-series properties of the US venture capital investments (VCI) to determine whether or not various sectors compete in the same market for venture capital funds. Using a battery of unit root tests, we find substantial evidence that VCI shares are nonstationary. Our findings are consistent with a high degree of rivalry for VCI among the different sectors.

Date: 2013
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DOI: 10.1080/13504851.2013.791013

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Handle: RePEc:taf:apeclt:v:20:y:2013:i:12:p:1150-1154