A majority of developed countries have realized the importance of functioning venture capital markets for job creation, innovation, and economic growth. Accordingly, governments have taken measures to support the development and efficient functioning of national venture capital markets. As a...

Contributing to the literature on local bias and financial networks, we examine how direct and indirect network ties of financial intermediaries mitigate the effects of distance and preference for local investments. In our analysis of cross-border venture capital exits, we find that proximity...