| 来源类型 | Article
|
| 规范类型 | 其他
|
| ISBN | 2009-2822
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| Is venture capital performance affected by recessions? Evidence from the UK Venture Capital Trust scheme. |
| Siepel, Josh
|
| 发表日期 | 2016-03-25
|
| 出处 | International Review of Entrepreneurship
|
| 出版者 | Senate Hall Academic Publishing
|
| 出版年 | 2016
|
| 语种 | 英语
|
| 摘要 | This paper seeks to explore whether firms that have received VC investment are subject to the same recessionary pressures as other small firms, or if receipt of VC incurs resilience to macroeconomic turbulence. It examines the survival and exit patterns of UK venture capital investments during the recessionary periodsGreat Recession of 2008-9, and compares these patterns to the dot-com boom and bust of 1999-2001. Using a new dataset of over 5000 investments made by UK Venture Capital Trusts (VCT) from 1995-2009, the paper uses using Cox survival models to examine the impact of macroeconomic turbulence on duration of investment. The paper finds that in contrast to high exit rates during the dot-com period, firms receiving VCT investment were significantly been less likely to exit by failure or other means during the recession of 2008-9. |
| 特色分类 | HG4701 Government securities. Industrial securities. Venture capital
|
| URL | http://sro.sussex.ac.uk/id/eprint/22757/
|
| 来源智库 | Science Policy Research Unit (United Kingdom)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/468678
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推荐引用方式
GB/T 7714 |
Siepel, Josh. Is venture capital performance affected by recessions? Evidence from the UK Venture Capital Trust scheme.. 2016.
|
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