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Journal of Economic Perspectives: Vol. 15 No. 2 (Spring 2001)
JEP Volume. 15, Issue 2 | 
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The Venture Capital Revolution
Article Citation
Gompers, Paul, and
Josh Lerner. 2001. "The Venture Capital Revolution."
Journal of Economic Perspectives,
15(2): 145-168.
DOI: 10.1257/jep.15.2.145
DOI: 10.1257/jep.15.2.145
Abstract
Venture capital has emerged as an important intermediary in financial markets, providing capital to young high-technology firms that might have otherwise gone unfunded. Venture capitalists have developed a variety of mechanisms to overcome the problems that emerge at each stage of the investment process. At the same time, the venture capital process is also subject to various pathologies from time to time, which can create problems for investors or entrepreneurs. This article reviews the recent empirical literature on these organizations and points out area where further research is needed.
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Gompers, Paul (Harvard U and NBER)
Lerner, Josh (Harvard U and NBER)
Lerner, Josh (Harvard U and NBER)
JEL Classifications
G24: Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies
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