Institutional Influences on the Worldwide Expansion of Venture Capital

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In this Subject: Business
By this author: Bruton, Garry D. ;&nbsp; Fried, Vance H. ;&nbsp; Manigart, Sophie

Authors: Bruton, Garry D.; Fried, Vance H.; Manigart, Sophie

Source: Entrepreneurship Theory and Practice, Volume 29, Number 6, November 2005 , pp. 737-760(24)

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Abstract:

The venture capital (VC) industry started in the United States and then spread worldwide. As it spread into other countries, there was a conscious attempt to copy industry practice from the U.S. However, venture capitalists in other countries are subject to different institutional forces that can impact their behavior. This article uses an institutional perspective to develop testable propositions on the impact of various institutions on venture capitalists’ behavior. The article concludes with a discussion of the implications of an institutional theory perspective for VC research and public policy.

Document Type: Research article

DOI: http://dx.doi.org/10.1111/j.1540-6520.2005.00106.x

Publication date: 2005-11-01