Structural changes in mature Venture Capital industry: Evidence from Israel

被引：13

作者：

Avnimelech, Gil ^{[1
]}

Schwartz, Dafna ^{[2
,3
]}

机构：

[1] Tel Aviv Univ, Fac Management, Leon Recanati Grad Sch Business Adm, Tel Aviv, Israel

[2] Ben Gurion Univ Negev, Dept Business Adm, MBA Program Entrepreneurship & High Tech Manageme, IL-84105 Beer Sheva, Israel

[3] Ben Gurion Univ Negev, Guilford Glazer Sch Business & Management, Bengis Ctr Entrepreneurship & Hitech Management, IL-84105 Beer Sheva, Israel

来源：

INNOVATION-ORGANIZATION & MANAGEMENT | 2009年 / 11卷 / 01期

关键词：

venture capital; industry life cycle; regional cluster; innovation; maturity; TECHNOLOGY; INNOVATION; AGGLOMERATION; FIRM;

D O I：

10.5172/impp.453.11.1.60

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

This article deals with the penetration of Venture Capital (VC) industry to a new geographical market and the changes that took place during its transition from the growth to the mature stage of development. We suggest that when VC industry enters a new geographical market, it will initially include very few, but extremely innovative agents. As the industry grows more agents enter the market, and it becomes on one hand more conservative and on the other more competitive. The first effect has a significant negative side effect - a decrease in industry innovativeness and barriers to industry renewal. We illustrate this argument using the Israeli case and present detailed quantitative analysis of the Israeli VC industry development between 1991 and 2007.

引用

页码：60 / 73

页数：14

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