| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27824 |
| 来源ID | Working Paper 27824 |
| Venture Capitalists and COVID-19 | |
| Paul Gompers; Will Gornall; Steven N. Kaplan; Ilya A. Strebulaev | |
| 发表日期 | 2020-09-21 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We survey over 1,000 institutional and corporate venture capitalists (VCs) at more than 900 different firms to learn how their decisions and investments have been affected by the COVID-19 pandemic. We compare their survey answers to those provided by a large sample of VCs in early 2016 and analyzed in Gompers, Gornall, Kaplan, and Strebulaev (2020). VCs have slowed their investment pace (71% of normal) and expect to invest at 81% of their normal pace over the coming year. Not surprisingly, they have devoted more time to guiding the portfolio companies through the pandemic. VCs report that 52% of their portfolio companies are positively affected or unaffected by the pandemic; 38% are negatively affected; and 10% are severely negatively affected. Overall, they expect the pandemic to have a small negative effect on their fund IRRs (-1.6%) and MOICs (-0.07). Surprisingly, we find little change in the allocation of their time to helping portfolio companies relative to looking for new investments. In general, we find only modest differences between institutional and corporate VCs. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance ; Industrial Organization ; Firm Behavior ; COVID-19 |
| URL | https://www.nber.org/papers/w27824 |
| 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/585496 |
| 推荐引用方式 GB/T 7714 | Paul Gompers,Will Gornall,Steven N. Kaplan,et al. Venture Capitalists and COVID-19. 2020. |
| 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 | ||
| w27824.pdf（345KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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