IDEAS home Printed from https://ideas.repec.org/a/ebl/ecbull/eb-19-00219.html
   My bibliography  Save this article

Industry Concentration and Venture Capital Flows around the World

Author

Listed:
  • Yan Alperovych

    (Emlyon Business School)

  • Xavier Mouchette

    (Fédération des Caisses Desjardins)

Abstract

This paper explores the relationship between the international venture capital (VC) activity and industry concentration levels in the countries of investors (origins) and those of target companies (destinations). With the international sample of VC transactions covering 65 industries and 67 countries during 1980-2016, we find a significant positive association between the flow of cross-border VC investments and the difference in industrial concentration levels between the origin and destination countries. This result is robust to (i) the inclusion of various control variables identified by the extant literature, (ii) inclusion/exclusion of the US-destined investments, and (iii) alternative estimation methods.

Suggested Citation

  • Yan Alperovych & Xavier Mouchette, 2020. "Industry Concentration and Venture Capital Flows around the World," Economics Bulletin, AccessEcon, vol. 40(2), pages 1216-1231.
    • Handle: RePEc:ebl:ecbull:eb-19-00219
    as

    Download full text from publisher

    File URL: http://www.accessecon.com/Pubs/EB/2020/Volume40/EB-20-V40-I2-P104.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Venture capital; international investments; industry concentration;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • F3 - International Economics - - International Finance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ebl:ecbull:eb-19-00219. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: John P. Conley (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.