Handbook of Corporate Finance Empirical Corporate Finance Volume 1

474 V. Maksimovic and G. Phillips operate is similarly obtained askL=pd 2 β−r. Notice thatkH>kL, so that a type H firm uses m ...

Ch. 8: Conglomerate Firms and Internal Capital Markets 475 In a multi-period setting firms don’t need to acquire all their capac ...

476 V. Maksimovic and G. Phillips whereλss=( 1 −λc)/2. We assume that the capacity in each industry is fixed atKifor i=1, 2. The ...

Ch. 8: Conglomerate Firms and Internal Capital Markets 477 a positive shock in industry 1 it grows faster in industry 2. By cont ...

478 V. Maksimovic and G. Phillips Erickson, T., Whited, T., 2000. Measurement error and the relationship between investment andq ...

Ch. 8: Conglomerate Firms and Internal Capital Markets 479 Maksimovic, V., Phillips, G., 2001. The market for corporate assets: ...

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Chapter 9 VENTURE CAPITAL* PAUL GOMPERS Graduate School of Business, Harvard University, Morgan 483, Soldiers Field, Boston, MA ...

482 P. Gompers Abstract Venture capital has emerged as an important intermediary in financial markets, provid- ing capital to yo ...

Ch. 9: Venture Capital 483 Introduction Venture capital has attracted increasing attention in both the popular press and acade ...

484 P. Gompers have become widely available to researchers. The theoretical literature on venture capi- tal has likewise explode ...

Ch. 9: Venture Capital 485 vestors: i.e., elderly investors who had a need for high current income rather than long-term capital ...

486 P. Gompers Ta b l e 1 A Summary statistics for venture capital fund-raising by independent venture partnerships. All dollar ...

Ch. 9: Venture Capital 487 Ta b l e 1 B Summary statistics for venture capital fund-raising by independent venture partnerships. ...

488 P. Gompers Fig. 1. Commitments to the venture capital industry. Commitments are defined as the amount of money that is pledg ...

Ch. 9: Venture Capital 489 fall-back reflected the disappointment that many investors encountered with their invest- ments. AsFi ...

490 P. Gompers Ta b l e 2 Number and dollar amount of venture capital disbursements in the U.S. in the first three quarters of 1 ...

Ch. 9: Venture Capital 491 Table 4provides a summary of investments in the ten states with the most venture cap- ital activity o ...

492 P. Gompers Ta b l e 3 Number and dollar amount of venture capital disbursements for U.S. manufacturing industries, by indust ...

Ch. 9: Venture Capital 493 Ta b l e 4 Number and dollar amount of venture capital disbursements for all industries in the ten st ...