Further evidence on the geographical concentration of venture capital investments

This study provides an alternative examination into the dynamics of US venture capital investments across different geographical markets. A simple concentration index is developed to measure the size of venture capital investments by region relative to the US total venture capital investments. The t...

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Bibliographic Details
Published inLetters in spatial and resource sciences Vol. 10; no. 2; pp. 229 - 235
Main Authors Medcalfe, Simon K., Thompson, Mark A.
Format Journal Article
LanguageEnglish
Published Berlin/Heidelberg Springer Berlin Heidelberg 01.07.2017
Subjects
Agricultural Economics
Demography
Economics
Economics and Finance
Environmental Economics
Geographical Information Systems/Cartography
Landscape/Regional and Urban Planning
Original Paper
Regional/Spatial Science
Unit root tests
R12
C32
G24
Regions
Concentration
Venture capital investments
Shocks
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Summary:This study provides an alternative examination into the dynamics of US venture capital investments across different geographical markets. A simple concentration index is developed to measure the size of venture capital investments by region relative to the US total venture capital investments. The time-series properties of this concentration index are examined; in particular, a series of unit root tests are employed to examine whether shocks to the index are temporary. Findings indicate that the geographical concentration of venture capital is increasing over time but shocks are temporary.
ISSN:1864-4031
1864-404X
DOI:10.1007/s12076-017-0184-z