Angels and venture capitalists: substitutes or complements?
We analyze the funding of start-up companies across financing rounds, focusing on the dynamic interactions between angel investors and venture capitalists. Using unique data from British Columbia, Canada, we show that angels and venture capitalists are dynamic substitutes. This substitutes pattern a...
| 主要な著者: | , , |
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| フォーマット: | Journal article |
| 言語: | English |
| 出版事項: |
Elsevier
2021
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