When U.S. venture capital ventures abroad

Khaled Abdou, Oscar Varela

Research output: Contribution to journalArticle

Abstract

Older, more experienced and smaller U.S. venture capital firms are most probable to sacrifice proximate distance for new opportunities in foreign, and mostly mature, portfolio companies. These companies are treated differently than the domestic ones, as U.S. venture capital firms collaborate with and delegate monitoring to foreign partners, rather than stage or syndicate. Successful outcomes mostly occur in more mature, non-hi-tech, portfolio companies that receive more financing per round. Our results are robust to the investee country's openness and industry classification, stage of the investment and possible sample selection problems.

Original languageEnglish (US)
Pages (from-to)1-23
Number of pages23
JournalAccounting and Finance
Volume54
Issue number1
DOIs
StatePublished - Mar 1 2014

All Science Journal Classification (ASJC) codes

  • Accounting
  • Finance
  • Economics, Econometrics and Finance (miscellaneous)

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