The southern culture of risk capital: The path dependence of entrepreneurial finance

Southeastern Geographer

Volumn 51, Issue 1, 2011, Pages 49-68

  Graves, William ^a  

^a UNIVERSITY OF NORTH CAROLINA AT CHARLOTTE   (United States)

Author keywords

Finance; Risk capital; Southern culture

Indexed keywords

CAPITAL; ECONOMIC DEVELOPMENT; ENTREPRENEUR; FINANCE; LABOR MARKET; SPILLOVER EFFECT;

NORTH CAROLINA; UNITED STATES;

EID: 80051518690     PISSN: 0038366X     EISSN: 15496929     Source Type: Journal    
DOI: 10.1353/sgo.2011.0003     Document Type: Article

References (57)

1. Alderman, D.H. 2007. Social justice in the American South. Southeastern Geographer 47(1): 86-91.
2. Atkinson, R., and Gottlieb, P. 2001. The Metropolitan New Economy Index. Washington, DC: Progressive Policy Institute.
3. Benner, C. 2002 Work in the New Economy: Flexible Labor Markets in Silicon Valley. Oxford: Blackwell Press.
4. Carlisle, R. Managing Partner, Dogwood Equity. Interview with author October 28, 2005, Raleigh, NC.
5. Carlton, D., and Coclanis, P. 1989. Capital mobilization and southern industry, 1880- 1905: The case of the Carolina Piedmont. Journal of Economic History 49:73-94.
6. Ciannamea, J. Managing Partner, Academy Funds. Interview with author February 24, 2006, Durham, NC. By phone.
7. Clark, J. Managing Partner, Aurora Funds. Interview with author October 28, 2005. Durham, NC.
8. Cobb, J. 1999. The Selling of the South: The Southern Crusade for Industrial Development. Urbana, IL: University of Illinois Press.
9. Cook, J. 2010. Motricity sets terms for smaller IPO. Triangle Business Journal. June 2: 8.
10. Dougherty, D. Managing Partner, Intersouth Partners. Interview with author February 24, 2006, Durham, NC. By phone.
11. Edge, J., and Hobbs, B. 2002. Southern Belly: The Ultimate Food Lover's Guide to the South. Athens, GA: Hill Street Press.
12. Elliott, M. Partner, Noro-Mosley Partners. Interview with author April 26, 2006. Charlotte, NC.
13. Erickson, R.A. 1976. The filtering down process: Industrial location in an non metropolitan area. Professional Geographer 28:254-260.
14. Fama, E. 1991. Efficient capital markets: II. Journal of Finance 46:1575-1617.
15. Forbes. 2008. Best place for business and careers. Forbes, March 19:65-69.
16. Francis, B., Hasan, I., and Waisman, M. 2007. Does Geography Matter to Bondholders? Federal Reserve Bank of Atlanta, Working Paper 2007-2.
17. Gompers, P., and Lerner, J. 2004. The Venture Capital Cycle. Second Edition. Cambridge, MA: MIT Press.
18. Goldstein, H., and Malizia, E. 1985. Microelectronics and Economic Development in North Carolina. In High Hopes for High-tech, (ed.), D. Whittington. Chapel Hill, NC: University of North Carolina Press.
19. Goldstein, H., and Malizia, E., and Renault, C. 2004. Contributions of universities to regional economic development: A quasi-experimental approach. Regional Studies 38:733-746.
20. Graves, W. 2003. Financing flexibility in a global market: The metropolitan distribution of equity investment. Urban Geography 24(7):611-635.
21. Graves, W., and Campbell, H. 2001. Paying for the new economy: The geography of equity finance in North Carolina. The North Carolina Geographer 9:24-41.
22. Graves, W., and Woodey, C. 2006. Risk, finance and North Carolina's post-industrial future. Southeastern Geographer 46(2):245-258.
23. Grote, M.H., and Umber, M.P. 2006. Home Biased? A Spatial Analysis of the Domestic Merging Behavior of US Firms. Working paper. Accessed 24 January 2010 at http://www.econstor.eu/handle/10419/23427
24. Hardin, J., and Harder, C. 2003. Tracking Innovation: North Carolina Innovation Index 2003. Raleigh, NC: North Carolina Board of Science and Technology.
25. James, A. 2005. Demystifying the role of culture in innovative regional economies. Regional Studies 39:1197-1216.
26. Johnson, M. 1997. Contemplations on postwar industrial geography in the US South. Southeastern Geographer 37(2):162-192.
27. Lee, S.Y., Florida, R., and Acs, Z. 2004. Creativity and entrepreneurship: A regional analysis of new firm formation. Regional Studies 38(8):879-891.
28. Leigh, N., and Walcott, S. 2002. Building a bioscience workforce: The southeast versus the vanguard states. Southeastern Geographer 42(2):262-273.
29. Linder, A. 2006. Managing Partner, Frontier Capital. Interview with author February 6, 2006. Charlotte, NC. By phone.
30. Lowe, N. 2007. Job creation and the knowledge economy: Lessons from North Carolina's life science manufacturing initiative. Economic Development Quarterly 21(4):339-353.
31. Link, A. 1995. A Generosity of Spirit: The Early History of the Research Triangle Park. Durham. Research Triangle Foundation of North Carolina.
32. Lugar, M. 1985. The States and Hightechnology Development: The Case of North Carolina. In High Hopes for High-tech, (ed.), D. Whittington. Chapel Hill, NC: University of North Carolina Press.
33. Lugar, M., and Goldstein, H. 1991. Technology in the Garden: Research Parks and Regional Economic Development. Chapel Hill, NC: University of North Carolina Press.
34. Lundegaard, K. 1999. Research triangle firm faces quandary of its age. The Wall Street Journal November 3.
35. Malecki, E., and Moriset, B. 2008. The Digital Economy: Business Organization, Production Processes ad Regional Developments. New York: Routledge.
36. Martin, R., Sunley, P., and Turner, D. 2002. Taking risks in regions: The geographical anatomy of Europe's emerging venture capital market. Journal of Economic Geography 2:121-150.
37. Mayer, H. 2005. Taking root in the Silicon Forrest. Journal of the American Planning Association 71(3):318-333.
38. Micklethwait, J., and Wooldridge, A. 2000. A Future Perfect: The Challenge and Hidden Promise of Globalization. New York: Three Rivers Press.
39. Mitchell, K. 1995. Flexible circulation in the Pacific Rim: Capitalisms in cultural context. Economic Geography 71:364-382.
40. Nelson, S. Managing Partner, Wakefield Capital. Interview with author January 31, 2006. Charlotte, NC. By phone.
41. Park, S., and Wheeler, J. 1983. The filtering down process in Georgia: The third stage in the product life cycle. Professional Geographer 35:18-31.
42. Powell, W., Koput, K., Bowie, J., and Smith- Doerr, L. 2002. The spatial clustering of science and capital: Accounting for biotech firm-venture capital relationships. Regional Studies 36(3):291-305.
43. Reed, J. 1986. The Enduring South: Subcultural Persistence in Mass Society. Chapel Hill: UNC Press.
44. Roberts, J. Director, Blue Ridge Entrepreneurial Council. Interview with author May 1, 2006. Asheville, NC. By phone. www.rtp.org. 2010. Accessed 12 July 2010.
45. Russell, S.S. Former Partner, Intersouth and Former Investment Manager Duke University Management Corporation. Interview with author June 22, 2006. Durham, NC.
46. Saxenien, A. 1994. Regional Advantage: Culture and Competition in Silicon Valley and Route 128. Cambridge, MA: Harvard University Press.
47. Schell, D. 1983. Entrepreneurial activity: A comparison of three North Carolina counties. In Frontiers of Entrepreneurial Research, (eds.), J. Hornaday, F. Tarpley, J. Timmons and K. Vesper. Wellesley, MA: Center for Entrepreneurial Studies, Babson College.
48. Schell, D. 1984. The Development of the Venture Capital Industry in North Carolina: A New Approach. In Frontiers of Entrepreneurial Research, (eds.), J. Hornaday, F. Tarpley, J. Timmons and K. Vesper. Wellesley, MA: Center for Entrepreneurial Studies, Babson College.
49. Sorenson, O., and Stuart, T. 2001. Syndication networks and the spatial distribution of venture capital investments. American Journal of Sociology 106(6):1546-1588.
50. Storper, M. 1997. The Regional World: Territorial Development in a Global Economy. New York: Guilford Press.
51. Vance, R. 1932. Human Geography of the South: A Study in Regional Resources and Human Adequacy. Chapel Hill: UNC Press.
52. Wallace, M. Founding CEO, Trimeris Corp., Cogent Corp. Interview with author 5 October 5, 2005. Durham, NC. By phone.Webster, G. 2007. Voting rights and social justice in the South. Southeastern Geographer 47:107-110.
53. Whittington, D. 1985. Microelectronics Policy in North Carolina: An Introduction. In High Hopes for High-tech, (ed.), D. Whittington. Chapel Hill, NC: University of North Carolina Press.
54. Wilson, A. Managing Partner, The Trelys Funds. Interview with author March 1, 2006, Columbia, SC.
55. Worthy, F. Partner, Pappas and Associates. Interview with author December 20, 2005. Research Triangle Park, NC.
56. Zook, M. 2002. Grounded capital: Venture financing and the geography of the internet industry, 1994-2000. Journal of Economic Geography 2:151-177.
57. Zook, M. 2004. The knowledge brokers: Venture capitalists, tacit knowledge and regional development. International Journal of Urban and Regional Research 28(3):621-41.