000 01697naa a2200193uu 4500
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005 20190211173324.0
008 100701s2007 xx ||||gr |0|| 0 eng d
100 1 _aBATES, Timothy
_941452
245 1 0 _aTraits and performance of the minority venture-capital industry
260 _aThousand Oaks :
_bSAGE,
_cSeptember 2007
520 3 _aThis study analyzes the performance of investments made by venture-capital (VC) funds that specialize in financing minority business enterprises (MBEs). Existing studies document that MBEs have less access to financing—equity as well as debt—than similarly situated firms owned by nonminority whites. The apparent existence of a discriminatory financing environment creates an underserved market and, hence, attractive opportunities are available to firms capable of identifying and serving MBE financing needs. Analyzing cash-flow data on VC investments, we find that the minority-oriented funds earned yields on their realized equity investments that were slightly higher than the returns reported by mainstream VC funds. Considering differences in methodologies used to generate rate-of-return data for the MBE—as opposed to the nonminority-oriented funds—we conclude that the minority VC funds are earning yields on their realized investments that are at least equivalent to those of the broader VC industry.
700 1 _aBRADFORD, William
_941463
773 0 8 _tThe Annals of the American Academy of Political and Social Science
_g613, p. 95-107
_dThousand Oaks : SAGE, September 2007
_xISSN 00027162
_w
942 _cS
998 _a20100701
_b1735^b
_cDaiane
998 _a20100706
_b1123^b
_cCarolina
999 _aConvertido do Formato PHL
_bPHL2MARC21 1.1
_c34846
_d34846
041 _aeng