The Determinants of Success in Venture Capital Finance

The determinants of success in venture capital financing are explored in this manuscript. 1247 venture capital funds formed over a twenty-year time period are empirically analyzed with results that support theoretical research from extant finance and economics literature. Venture capitalists' choices of portfolio size, distance from portfolio firms, location, and to some extent, level of diversification in their investment portfolio, are all significant factors in explaining the success rates of venture capital funds. These results are robust even when controlling for other characteristics of venture funds and entrepreneurial firms, such as the stage of development and industry of the portfolio firms, which may affect success rates of venture capitalist portfolios.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Economics and Finance

Year

2005

Author dc:creator

• Bartkus, James

Contributors dc:contributor

• Hassan, Kabir
• Miller, Edward
• Whitney, Gerald

• Innovation
• start-up
• entrepreneurial
• distance
• diversification
• specialization

Repository record dc:identifier

https://scholarworks.uno.edu/td/146

OAI identifier oai:identifier

oai:scholarworks.uno.edu:td-1150