NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Venture Capital Investments and Merger and Acquisition Activity Around the World

Gordon M. Phillips, Alexei Zhdanov

NBER Working Paper No. 24082
Issued in November 2017

---- Acknowledgments ----

We thank Tom Blaisdell, Laurent Fresard, Karl Lins, Merih Sevilir and seminar participants at the University of Hong Kong, HKUST, Indiana University and Michigan State University for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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