Working Paper: NBER ID: w17523
Authors: Marco Da Rin; Thomas F. Hellmann; Manju Puri
Abstract: This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services and exits. The survey considers recent work on organizational structures of venture capital firms, and the relationship between general and limited partners. It discusses the work on the returns to venture capital investments. It also examines public policies, and the role of venture capital in the economy at large.
Keywords: No keywords provided
JEL Codes: G21; G23; G24
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| VC financing (G24) | entrepreneurial success (L26) |
| VC financing (G24) | innovation (O35) |
| VC involvement (G24) | successful exits (Y60) |
| VC's active management and funding strategies (G24) | performance of portfolio companies (L25) |
| mentorship, strategic guidance, and network access (O36) | growth and sustainability of startups (M13) |
| structure of VC contracts (L14) | optimal performance outcomes (L21) |