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Corporate Relocation in Venture Capital Finance

Cumming, Douglas; Fleming, Grant; Schwienbacher, Armin

Description

This paper introduces an analysis of international relocation decisions of venture capital (VC)-backed companies. Relocations to the United States are motivated by economic conditions as well as an improvement in the laws of the country in which the entrepreneurial firm is based. Relocations to the United States yield much greater returns to Asia-Pacific VCs than investing in companies already based in the United States at the time of VC investment. Further, more experienced Asia-Pacific VCs...[Show more]

dc.contributor.authorCumming, Douglas
dc.contributor.authorFleming, Grant
dc.contributor.authorSchwienbacher, Armin
dc.date.accessioned2015-12-10T22:16:19Z
dc.identifier.issn1042-2587
dc.identifier.urihttp://hdl.handle.net/1885/50878
dc.description.abstractThis paper introduces an analysis of international relocation decisions of venture capital (VC)-backed companies. Relocations to the United States are motivated by economic conditions as well as an improvement in the laws of the country in which the entrepreneurial firm is based. Relocations to the United States yield much greater returns to Asia-Pacific VCs than investing in companies already based in the United States at the time of VC investment. Further, more experienced Asia-Pacific VCs have greater success with their investee relocations to the United States, and these relocations yield higher returns relative to staying in their country of origin.
dc.publisherJohn Wiley & Sons Inc
dc.sourceEntrepreneurship Theory and Practice: the official journal of the United States Association for Small business and Entrepreneurship
dc.titleCorporate Relocation in Venture Capital Finance
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume33
dc.date.issued2009
local.identifier.absfor150201 - Finance
local.identifier.ariespublicationu4326120xPUB212
local.type.statusPublished Version
local.contributor.affiliationCumming, Douglas, York University
local.contributor.affiliationFleming, Grant, College of Business and Economics, ANU
local.contributor.affiliationSchwienbacher, Armin, University of Amsterdam
local.description.embargo2037-12-31
local.bibliographicCitation.issue5
local.bibliographicCitation.startpage1121
local.bibliographicCitation.lastpage1155
local.identifier.doi10.1111/j.1540-6520.2009.00337.x
dc.date.updated2015-12-09T08:23:02Z
local.identifier.scopusID2-s2.0-70349871192
CollectionsANU Research Publications

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