Asset liquidity and venture capital investment

Giang Nguyen, Vinh Vo

研究成果: Article査読

1 被引用数 (Scopus)

抄録

We examine the relationship between asset market liquidity and venture capital (VC) investment and find that it is inverted U-shaped. Asset liquidity and VC investment are positively related for low levels of asset liquidity but negatively related for higher levels of asset liquidity. We also document evidence that VC firms with more industry experience invest more in a liquid asset market than those without industry experience or with significant experience in other industries. Portfolio companies obtained their first investment in a liquid asset market are less likely to exit successfully; however, given a successful exit, they prefer to exit through mergers and acquisitions rather than going public.

本文言語English
論文番号101963
ジャーナルJournal of Corporate Finance
69
DOI
出版ステータスPublished - 2021 8

ASJC Scopus subject areas

  • ビジネスおよび国際経営
  • 財務
  • 経済学、計量経済学
  • 戦略と経営

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