Financial Markets of the Middle East and North Africa: The Past and Present

The recent political developments in the Middle East have prompted increased scrutiny of the economies of the nations lying in this region. Over the past few months, the financial markets of Middle East and North Africa (MENA) have been affected by the speculations that existed before the war in Iraq as well as its subsequent repercussions. Factors such as lagging domestic, political reforms, government interference, and inflexible monetary and fiscal policies remain obstacles to privatization, globalization, and foreign investment in MENA economies. As the economies enter the post-war recovery phase, reform of financial markets seems necessary to accelerate economic growth.Middle East and North African (MENA) Emerging Financial Markets; Bahrain, Egypt, Israel, Jordan, Kuwait, Lebanon, Morocco, Oman, Tunisia, Turkey; Foreign Direct Investment; Globalization and Growth; Iraq War; Gulf War; Macroeconomic and Financial Indicators

Venture Capital Meets Industrial Sector and Location

This paper examines venture capital investment activity in the United States during the period 1995 to the first quarter 2009, taking into consideration both location and industry sector. The research question is whether industry and region are important factors in determining venture capital investment. Furthermore, the paper explores the effects of macroeconomic variables on investment activity. Consequently, the venture capital data are augmented by Gross Domestic Product (GDP), Federal Funds Rate, three, five and ten year interest rates. By examining long term trends, the effect of the current economic crisis on venture capital investment may be better understood.Venture Capital; Economic Geography; Location; Biotechnology; Business Products and Services; Computers and Peripherals; Consumer Products and Services; Electronics and Instrumentation; Financial Services; Healthcare Services; Industrial and Energy; Information Technology Services; Media and Entertainment; Medical Devices and Equipment; Networking and Equipment; Retailing and Distribution; Semiconductors; Software; Telecommunications

Choosing Between Promising and Crowded Industries: How Does the Venture Capital Industry Fare in Each?

Incredible profits from Initial Public Offerings have been highly emphasized. This paper refutes these profits as being standard and supports the market’s return to normalcy by stratifying annual and cumulative returns for different industries: Biotechnology; Communications; Computer Related companies; Medical, Health and Life Science industries; Non-High-Technology companies; and Semiconductor and Other Electronics Industries. This paper tests whether an entrepreneur has greater potential for success in continually promising fields or whether one should slug it out in a risky but potentially very rewarding industry. A comparison of success is made between already competitive businesses and those, which are young and growing.Initial public offering, venture capital, annualized and cumulative rates of return, Information Technology, Medical, Health and Life Science, Non-High Technology, Biotechnology, Communications, Computer Industry, Semiconductor and Other Electronics Industries

What One Can Learn From the Initial Public Offering of Google? A Twenty-Year Excursion to the Venture Capital Industry

Over the past two decades the venture capital industry became a major focus for the financial media. With potential for high rates of return, this industry attracts entrepreneurs looking for opportunities to invest. While some investments are successful and highly publicized, many are not. This paper gives insight about the role financing in different stages plays in determining the success of an investment. It compares data on the rates of return of 2,678 venture-backed public companies during multiple stages of financing. Additionally, this paper evaluates how the rates of return of these companies have changed between the 1980s and 1990s.Annualized returns, Venture Capital, Venture-Backed Public Companies, Stage of Financing, Initial Public Offering, Early-Stage Financing, Seed Financing, Research and Development Financing, Start-up Financing, First-Stage Financing, Expansion Financing, Second-Stage Financing, Third-Stage and Mezzanine Financing, Bridge Financing, Acquisition/Buyout Financing, Acquisition Financing, Management /Leveraged Buyout

Location, Location, Location: Entrepreneurial Finance Meets Economic Geography

Economic Geography maintains that economic activities are not randomly distributed across space. This paper examines the impact of industrial and regional characteristics on venture capital activities in the United States from 1995 until 2009. The unique database allows for stratifications into seventeen industries within nineteen regions of the United States. This study affirms the significance of both Location and industry in venture capital investment. Both statistical and graphical methods are employed in order to better ascertain the dynamic nature of the data.Venture Capital; Economic Geography; Location; Biotechnology; Business Products and Services; Computers and Peripherals; Consumer Products and Services; Electronics and Instrumentation; Financial Services; Healthcare Services; Industrial and Energy; Information Technology Services; Media and Entertainment; Medical Devices and Equipment; Networking and Equipment; Retailing and Distribution; Semiconductors; Software; Telecommunications.

Énvironmental Economics and Venture Capital

What are the effects of macroeconomic variables on venture-backed capital investment in environmentally friendly industries in the United States? What is the significance of location in determining both the number of deals and amount of investment by venture capital in the Clean-tech industry? The Clean-tech sector encompasses those firms that actively incorporate environmental concerns into their products and services. The sector contains environmentally progressive companies from many different traditional, functionality-based industries such as software, energy, telecommunications, etc. This paper ascertains the effects of macroeconomic variables and the location on venture-capital backed investment in the Clean-tech industry in the United States.Venture Capital; Clean-Technology Industry; Economic Geography; Location; Environmental Economics; Industrial Sector

U.S. Venture Capital Meets Clean-Technology

Public concern over global climate change, resource depletion, and environmental degradation has amplified over the last several years, leading to increased demand for environmentally friendly products. Additionally, the price of Clean-Technology products has fallen. This paper examines venture capital investment in the Clean-Technology industry of the U.S. in 1995-2008. The paper explores the effects of macroeconomic variables, national venture capital investment and geography on Clean-Technology investment. The conclusion indicates the importance of geographical location in affecting Clean-Technology investment. A weak correlation between national venture capital and Clean-Technology investments raises the possibility of a more diversified investment portfolio.Venture Capital; Clean-Technology Industry; Economic Geography; Location; Environmental Economics; Sustainability; Industrial Sector

Boom and Bust of the spanish Economy

Spain has experienced many financial crises through its history. These financial crises have varied origins. However, they do have common threads. The current recession and subsequent debt crisis follow the same pattern. The fiscal and monetary policies of the Spanish government have played a role in creating and prolonging the boom and bust cycles. Government spending, government regulation, credit institutions, budget deficits, the political climate, and international trade are discussed to illuminate the causes and effects of these business cycles. The Spanish government can take action to improve the economy and to lessen the effects of its financial crises.Spain; Spanish Economy; Financial Crises, Federal Budget Deficit, Banking Crises, Subprime Mortgage; Spanish Industrial Revolution; Economic History; Political Economy; International Trade; Government Regulation

Entrepreneurship in Oman

The Sultanate of Oman has a diversified economy, unlike many of its neighboring nations that rely almost entirely on oil revenues. Natural gas and several non-energy business sectors, such as tourism, fishing, light manufacturing, and agriculture are expanding rapidly. The Omani economy is one of the freest in its region. A relatively stable government and low taxes make Oman a desirable location for entrepreneurial ventures. Furthermore, foreign direct investment is welcomed. Tourism is the most attractive area for international entrepreneurs. Oil revenues, coupled with increasing foreign investment are likely to both diversify the Omani economic base and strengthen it.Entrepreneurship; Small and Medium Sized Enterprises (SMEs); Business Ventures; Oman; Middle East; Oil; Tourism; Natural Gas; Foreign Direct Investment; Index of Economic Freedom; Oman-U.S. Free Trade Zone

The Reality of IPO Performance: An Empirical Study of Venture-Backed Public Companies

The incredible profits of Initial Public Offerings have often been emphasized in the media as a popular investment for the public. This paper takes a few steps towards refuting such an assertion by investigating the performance of 2,895 venture capital backed IPOs between 1968 and September 1998. The paper finds that it is incorrect to assume that investors demand very high annualized and cumulative rates of return to compensate for the risks they are taking by financing ventures in different sectors of the economy. The mean rates of return are found to be, in practice, very moderate, and often, negative.Initial public offering; venture capita; annualized and cumulative rates of return; Information Technology; Medical, Health and Life Science; Non-High Technology; Biotechnology; Communications; Computer Industry; Semiconductor and Other Electronics Industries