Venture Capital and Vulnerability: Navigating Natural Disasters and Investment Resilience

被引：0

作者：

Huang, Chen ^{[1
]}

Zhang, Aoran ^{[2
]}

Zhang, Mengyu ^{[3
]}

Zhao, Yunfei ^{[4
]}

机构：

[1] Queen Mary Univ London, Sch Business & Management, London, England

[2] Toronto Metropolitan Univ, Ted Rogers Sch Management, Toronto, ON, Canada

[3] Univ Sheffield, Management Sch, Sheffield, England

[4] Wenzhou Kean Univ, Coll Business & Publ Management, Wenzhou, Zhejiang Provin, Peoples R China

来源：

EUROPEAN FINANCIAL MANAGEMENT | 2024年

关键词：

climate risk; entrepreneurial companies; Natural disasters; venture capital; ENTREPRENEURIAL FINANCE; IMPACT; BANKS; UNCERTAINTY; STRATEGIES; INNOVATION; CONTRACTS; SUCCESS; DEMAND; SHOCKS;

D O I：

10.1111/eufm.12528

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study examines the impact of natural disasters on venture capital (VC) investment decisions. Using 47 catastrophic natural disasters occurred in the United States from 1990 to 2019, our empirical analysis reveals a significant reduction in VC investments in disaster zones. Additionally, natural disasters negatively influence VC exit strategies, reducing the likelihood and extending the time to successful exits via IPOs. However, we find that green VCs are more likely to invest in disaster-affected areas, indicating potential resilience through green technological innovation. Our findings emphasize sustainability and disaster mitigation, and offer valuable insights for policymakers and investors amidst rising climate uncertainties.

引用

页数：24

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