Venture capital enters academia: an analysis of university-managed funds
Venture capital enters academia: an analysis of university-managed funds
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风险投资进入学术界：大学管理基金分析
DOI：
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发表时间：
2013
期刊：
影响因子：
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通讯作者：
S. Murtinu
中科院分区：
文献类型：
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作者：
A. Croce;L. Grilli;S. Murtinu
近年来，大学的“第三使命”，即向产业和社会转移知识，作为提高经济增长和社会福利的决定性因素，变得越来越重要。在大学实施的技术转让实践的广阔世界中，大学风险投资和私募股权基金（UF）的建立和管理在很大程度上是未知的，研究不足。本文的重点是对1973 - 2010年这一现象进行详细的描述，包括哪些大学设立了大学基金，大学基金的目标行业和投资公司的投资阶段，参与交易的共同投资者类型，以及大学基金最终业绩的决定因素。这幅图使我们有机会得出关于不同背景下（即欧洲和美国）未用指标相关性的一些含义，并为感兴趣的利益攸关方提供一些有用的未来发展指南。
In recent years, a “third mission” pursued by universities, i.e. knowledge transfer to industry and society, has become more important as a determinant of enhancements in economic growth and social welfare. In the vast world of technology transfer practices implemented by universities, the establishment and management of university venture capital and private equity funds (UFs) is largely unknown and under-researched. The focus of this work is to provide a detailed description of this phenomenon from 1973 to 2010, in terms of which universities set-up UFs, their target industries and the investment stages of portfolio companies, which types of co-investors are involved in the deals, and which are the determinants of UFs’ ultimate performances. The picture offers us the opportunity to draw some implications about the relevance of UFs in different contexts (i.e. Europe and the United States) and provide to interested stakeholders with some useful guidelines for future development.
影响因子：
4.8
作者：
D'Este, Pablo;Perkmann, Markus
通讯作者：
Perkmann, Markus