Venture-Capital Investment in Minority Business
This study analyzes the performance of mature investments made by venture-capital (VC) funds that specialize in financing minority business enterprises. We explore the hypothesis that VCs focusing on investing in minority businesses earn attractive returns because this market niche is underserved. M...
| Veröffentlicht in: | Journal of Money, Credit and Banking. - Blackwell Publishing. - 40(2008), 2/3, Seite 489-504 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
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2008
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| Zugriff auf das übergeordnete Werk: | Journal of Money, Credit and Banking |
| Schlagworte: | G24 L2 L89 Venture capital Financing Minority business Economics Business |
| Zusammenfassung: | This study analyzes the performance of mature investments made by venture-capital (VC) funds that specialize in financing minority business enterprises. We explore the hypothesis that VCs focusing on investing in minority businesses earn attractive returns because this market niche is underserved. Minority VC funds collectively earned yields on their realized investments that were estimated to be broadly equivalent to those of the mainstream VC industry. However, these yields vary greatly from fund to fund. VC fund traits that predict high yields on individual investments are identified by estimating multivariate regressions explaining net investment returns. |
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| ISSN: | 15384616 |