Date of Award
5-2005
Degree Type
Dissertation
Degree Name
Ph.D.
Degree Program
Financial Economics
Department
Economics and Finance
Major Professor
Hassan, Kabir
Second Advisor
Miller, Edward
Third Advisor
Whitney, Gerald
Fourth Advisor
Gleason, Katherine
Fifth Advisor
Varela, Oscar
Abstract
The determinants of success in venture capital financing are explored in this manuscript. 1247 venture capital funds formed over a twenty-year time period are empirically analyzed with results that support theoretical research from extant finance and economics literature. Venture capitalists' choices of portfolio size, distance from portfolio firms, location, and to some extent, level of diversification in their investment portfolio, are all significant factors in explaining the success rates of venture capital funds. These results are robust even when controlling for other characteristics of venture funds and entrepreneurial firms, such as the stage of development and industry of the portfolio firms, which may affect success rates of venture capitalist portfolios.
Recommended Citation
Bartkus, James, "The Determinants of Success in Venture Capital Finance" (2005). University of New Orleans Theses and Dissertations. 146.
https://scholarworks.uno.edu/td/146
Rights
The University of New Orleans and its agents retain the non-exclusive license to archive and make accessible this dissertation or thesis in whole or in part in all forms of media, now or hereafter known. The author retains all other ownership rights to the copyright of the thesis or dissertation.