Effect of General Uncertainty on Venture-Capital Investments: A Cross-Country Study
Using panel data for 19 OECD countries covering the period 1986-1995, we find effect of general economic uncertainty on venture-capital investments to be significantly negative. The more irreversible late-stage venture-capital investments are much more adversely affected by such uncertainty than earlystage investments.
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Volume (Year): 57 (2004)
Issue (Month): 3 ()
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