| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15102 |
| 来源ID | Working Paper 15102 |
| Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion | |
| Henry Chen; Paul Gompers; Anna Kovner; Josh Lerner | |
| 发表日期 | 2009-06-25 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We document geographic concentration by both venture capital firms and venture capital-financed companies in three cities - San Francisco, Boston, and New York. We find that firms open new satellite offices based on the success rate of venture capital-backed investments in an area. Geography is also significantly related to outcomes. Venture capital firms based in locales that are venture capital centers outperform, regardless of the stage of the investment. Ironically, this outperformance arises from outsized performance outside of the venture capital firms' office locations, including in peripheral locations. If the goal of state and local policy makers is to encourage venture capital investment, outperformance of non-local investments suggests that policy makers might want to mitigate costs associated with established venture capitalists investing in their geographies rather than encouraging the establishment of new venture capital firms |
| 主题 | Financial Economics ; Financial Institutions ; Regional and Urban Economics ; Regional Economics |
| URL | https://www.nber.org/papers/w15102 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572777 |
| 推荐引用方式 GB/T 7714 | Henry Chen,Paul Gompers,Anna Kovner,et al. Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15102.pdf（361KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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