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• On the Global Expansion of Venture Capital

  60-69

  Judit Edit Futó

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  The venture capital industry has also been negatively affected worldwide by the financial crisis of 2008, thus the usual investment conditions have changed. One aim of the study is to provide an overview of the changes. As shown in the global trends, the level of the global annual venture capital investments in 2013 just reached the level of before 2008. Although in some Asian countries (China and India) the decline was not significant, unlike in the European countries. Another aim of the study is to examine whether there is a reality of an integrated global venture capital model, or it is different in each country. If there is a difference, then what kind of explanatory factors can be tracked back. On the basis of extensive international literature the article argues that there are a number of factors such as the characteristics of financial systems, the legal and institutional barriers and the culture that affect the emergence of an integrated venture capital model.

  Journal of Economic Literature (JEL) codes: G24