Venture capital and internationalization

Andrea Schertler () and Tereza Tykvova

No 09-055, ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research

Abstract: Cross-border investments represent a substantial share of venture capital activities. We use a new and comprehensive dataset on worldwide investments to analyze the internationalization of venture capital financing. Our results from the perspectives of (i) venture capitalists, (ii) portfolio companies, (iii) portfolio companies' countries and (iv) pairs of venture capitalists' and portfolio companies' countries suggest that some factors, such as viable stock markets, boost investments by domestic as well as by foreign venture capitalists. Therefore, our results are of interest not only to academics but also to policy makers who want to foster the growth of the local venture capital industry and local companies.

Keywords: Venture capital; internationalization; macroeconomic factors (search for similar items in EconPapers)
JEL-codes: F21 G24 (search for similar items in EconPapers)
Date: 2009
New Economics Papers: this item is included in nep-cse and nep-ent
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Related works:
Journal Article: Venture capital and internationalization (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zewdip:09055

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