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The Economic Impact of Venture Capital: Evidence from Public Companies

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  • Gornall, Will

    (University of British Columbia)

  • Strebulaev, Ilya A.

    (Stanford University)

Abstract

Over the past 30 years, venture capital has become a dominant force in the financing of innovative American companies. From Google to Intel to FedEx, companies supported by venture capital have profoundly changed the U.S. economy. Despite the young age of the venture capital industry, public companies with venture capital backing employ four million people and account for one-fifth of the market capitalization and 44% of the research and development spending of U.S. public companies. From research and development to employment to simple revenue, the companies funded by venture capital are a major part of the U.S. economy.

Suggested Citation

  • Gornall, Will & Strebulaev, Ilya A., 2015. "The Economic Impact of Venture Capital: Evidence from Public Companies," Research Papers 3362, Stanford University, Graduate School of Business.
    • Handle: RePEc:ecl:stabus:3362
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