Access to venture capital and the performance of venture-backed start-ups in silicon valley

Economic Development Quarterly

Volumn 21, Issue 2, 2007, Pages 124-147

  Zhang, Junfu ^a  

^a CLARK UNIVERSITY   (United States)

Author keywords

Performance of start ups; Silicon Valley; Venture capital

Indexed keywords

CAPITAL; COMPETITIVENESS; ELECTRONICS INDUSTRY; INDUSTRIAL INVESTMENT;

CALIFORNIA; NORTH AMERICA; SILICON VALLEY; UNITED STATES;

EID: 38749125867     PISSN: 08912424     EISSN: 15523543     Source Type: Journal    
DOI: 10.1177/0891242406298724     Document Type: Article

References (40)

1. Arthur, W.B. (1990). " Silicon Valley" locational clusters: When do increasing returns imply monopoly? Mathematical Social Sciences, 19, 235-251.
2. Banatao, D.P., & Fong, K.A. (2000). The valley of deals: How venture capital helped shape the region. In C. M. Lee, W. F. Miller, M. G. Hancock, & H. S. Rowen (Eds.), The Silicon Valley edge: A habitat for innovation and entrepreneurship (pp. 295-313). Stanford, CA: Stanford University Press.
3. Bygrave, W.D., & Timmons, J.A. (1992). Venture capital at the crossroads. Boston: Harvard Business School Press.
4. Carroll, G.R., & Hannan, M.T. (2000). The demography of corporations and industries. Princeton, NJ: Princeton University Press.
5. Cochrane, J.H. (2005). The risk and return of venture capital. Journal of Financial Economics, 75, 3-52.
6. Cohen, M.A., Eliashberg, J., & Ho, T. (1996). New product development: The performance and time-to-market trade-off. Management Science, 42, 173-186.
7. Cohen, S.S., & Fields, G. (1999). Social capital and capital gains in Silicon Valley. California Management Review, 41(2), 108-130.
8. Der Hovanesian, M. (2002, July 29). The VCs don't want your money anymore. Business Week, p. 81.
9. Ellison, G., & Glaeser, E.L. (1997). Geographic concentration in U.S. manufacturing industries: A dartboard approach. Journal of Political Economy, 105, 889-927.
10. Fujita, M., & Thisse, J.F. (2002). Economics of agglomeration: Cities, industrial location, and regional growth. Cambridge, UK: Cambridge University Press.
11. Gompers, P., & Lerner, J. (1999). The venture capital cycle. Cambridge, MA: MIT Press.
12. Gompers, P., & Lerner, J. (2000). Money chasing deals? The impact of fund inflows on private equity valuations. Journal of Financial Economics, 55, 281-325.
13. Gompers, P., Lerner, J., & Scharfstein, D. (2005). Entrepreneurial spawning: Public corporations and the genesis of new ventures, 1986-1999. Journal of Finance, 60, 577-614.
14. Harrison, B. (1992). Industrial districts: Old wine in new bottles? Regional Studies, 26, 469-483.
15. Hellmann, T.F. (2000). Venture capitalists: The coaches of Silicon Valley. In C. M. Lee, W. F. Miller, M. G. Hancock, & H. S. Rowen (Eds.), The Silicon Valley edge: A habitat for innovation and entrepreneurship (pp. 276-294). Stanford, CA: Stanford University Press.
16. Hellmann, T., & Puri, M. (2000). The interaction between product market and financing strategy: The role of venture capital. Review of Financial Studies, 13, 959-984.
17. Kenney, M. (Ed.). (2000). Understanding Silicon Valley: The anatomy of an entrepreneurial region. Stanford, CA: Stanford University Press.
18. Kenney, M., & Florida, R. (2000). Venture capital in Silicon Valley: Fueling new firms formation. In M. Kenney (Ed.), Understanding Silicon Valley: The anatomy of an entrepreneurial region (pp. 98-123). Stanford, CA: Stanford University Press.
19. Krugman, P. (1991). Geography and trade. Cambridge, MA: MIT Press.
20. Lee, C. M., Miller, W. F., Hancock, M. G., & Rowen, H. S. (Eds.). (2000). The Silicon Valley edge: A habitat for innovation and entrepreneurship. Stanford, CA: Stanford University Press.
21. Lerner, J. (1995). Venture capitalists and the oversight of private firms. Journal of Finance, 50, 301-318.
22. Marshall, A. (1920). Principles of Economics (8 th ed.). London: Macmillan.
23. Martin, R., & Sunley, P. (2003). Deconstructing clusters: Chaotic concept or policy panacea? Journal of Economic Geography, 3, 5-35.
24. Mayer, D., & Kenney, M. (2004). Economic action does not take place in a vacuum: Understanding Cisco's acquisition and development strategy. Industry and Innovation, 11, 299-325.
25. Metcalfe, B. (1998, March 2). Asian tour provides useful insight on Silicon Valley's worldwide Internet edge. Infoworld Electric. Retrieved January 4, 2006, from http://www.infoworld.com/cgi-bin/displayNew.pl?/ metcalfe/980302bm.htm
26. Paulson, E. (2001). Inside Cisco: The real story of sustained M&A growth. New York: John Wiley.
27. Porter, M. (1998). Clusters and the new economics of competition. Harvard Business Review, 76, 77-90.
28. Rosenberg, D. (2002). Cloning Silicon Valley. New York: Pearson Education.
29. Saxenian, A.L. (1994). Regional advantage: Culture and competition in Silicon Valley and Route 128. Cambridge, MA: Harvard University Press.
30. Saxenian, A.L. (2000). Regional networks and innovation in Silicon Valley and Route 128. In Z. J. Acs (Ed.), Regional innovation, knowledge and global change (pp. 123-138). London: Pinter.
31. Sorenson, O., & Stuart, T. (2001). Syndication networks and the spatial distribution of venture capital investments. American Journal of Sociology, 106, 1546-1588.
32. Stalk, G. (1988, July/August). Time-The next source of competitive advantage. Harvard Business Review, 66, 41-51.
33. Stuart, T., & Sorenson, O. (2003). The geography of opportunity: Spatial heterogeneity in founding rates and the performance of biotechnology firms. Research Policy, 32, 229-253.
34. VentureOne Corporation. (2000). The VentureOne venture capital sourcebook. San Francisco: Author.
35. VentureOne Corporation. (2001). Venture capital industry report. San Francisco: Author.
36. Von Burg, U., & Kenney, M. (2000). Venture capital and the birth of the local area networking industry. Research Policy, 29, 1135-1155.
37. Zhang, J. (2003a). Growing Silicon Valley on a landscape: An agent-based approach to high-tech industrial clusters. Journal of Evolutionary Economics, 13, 529-548.
38. Zhang, J. (2003b). High-tech start-ups and industry dynamics in Silicon Valley. San Francisco: Public Policy Institute of California.
39. Zook, M.A. (2002). Grounded capital: Venture financing and the geography of the Internet industry, 1994-2000. Journal of Economic Geography, 2, 151-177.
40. Zook, M.A. (2004). The knowledge brokers: Venture capitalists, tacit knowledge and regional development. International Journal of Urban and Regional Research, 28, 621-641.