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Venture Capital Investments In Emerging Economies: An Empirical Analysis

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  • MEDHI SALEHIZADEH

    ()
    (Department of Finance, College of Business Administration, San Diego State University, San Diego, CA 92182-8236, USA)

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    Abstract

    In the international arena an increasing number of entrepreneurs and venture capitalists have succeeded, yielding both micro-level financial rewards and macro-level prosperity and improved economic conditions for many industrialized countries. The next logical "group," with a potential to reap such benefits, is expected to be the emerging economies. This study tabulates and analyzes an emerging market VC-investment dataset, and then identifying and testing a number of independent economic and financial factors that explain such investments for a selected group of emerging countries. Based on 1990-2003 data covering 19 nations, the regression results show four of the five proposed variables, namely GDP per capita, long-term capital inflows, stock market listings, and a measure of stock market correlations, to be significant in explaining VC investments.

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    Bibliographic Info

    Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal Journal of Developmental Entrepreneurship.

    Volume (Year): 10 (2005)
    Issue (Month): 03 ()
    Pages: 253-269

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    Handle: RePEc:wsi:jdexxx:v:10:y:2005:i:03:p:253-269

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    Related research

    Keywords: Emerging economies; venture capital; listed stocks; capital flows;

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    Cited by:
    1. Kiss, Andreea N. & Danis, Wade M. & Cavusgil, S. Tamer, 2012. "International entrepreneurship research in emerging economies: A critical review and research agenda," Journal of Business Venturing, Elsevier, vol. 27(2), pages 266-290.

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