سرمایه گذاری مخاطره آمیز و بین المللی شدن
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|48208||2011||17 صفحه PDF||سفارش دهید||11862 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : International Business Review, Volume 20, Issue 4, August 2011, Pages 423–439
Cross-border investments represent a substantial share of venture capital activities. We use a comprehensive dataset on investments worldwide to analyze the internationalization of venture capital financing. We postulate that cross-border activity is shaped by macroeconomic factors in the venture capitalists’ and the portfolio companies’ countries, as well as characteristics of the venture capitalists and the deals, which likely affect the costs and benefits of investing abroad. In order to analyze how country-specific, venture capitalist-specific and deal-specific factors affect cross-border activity, we use the country, venture capitalist and portfolio company perspectives. Our results suggest that factors capturing the benefits and costs of investing abroad determine international venture capital flows.