The early-stage risk capital market in Scotland since 2000: issues of scale, characteristics and market efficiency

Richard T. Harrison, Gavin Don, Keith Glancey Johnston, Malcolm Grieg

Research output: Contribution to journalArticlepeer-review

25 Citations (Scopus)

Abstract

In this paper we provide a detailed profile and analysis of the regional risk capital market in Scotland, using an innovative methodology and specially developed databases which cover risk capital investment in young companies in the periods 2000–04 and 2005–07. This identifies the investment activity of all actors in the market and provides estimates of the total flow of risk capital investment into early-stage Scottish companies over the period. The paper concludes by drawing out the implications for policy makers (providing a more robust evidence base for the development, implementation and monitoring of policy) and for academic researchers (on the methodologies for estimating market scale and efficiency).
Original languageEnglish
Pages (from-to)211-239
Number of pages29
JournalVenture Capital An International Journal of Entrepreneurial Finance
Volume12
Issue number3
DOIs
Publication statusPublished - 2010

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