Letters in Spatial and Resource Sciences

, Volume 10, Issue 2, pp 229–235 | Cite as

Further evidence on the geographical concentration of venture capital investments

  • Simon K. Medcalfe
  • Mark A. Thompson
Original Paper


This study provides an alternative examination into the dynamics of US venture capital investments across different geographical markets. A simple concentration index is developed to measure the size of venture capital investments by region relative to the US total venture capital investments. The time-series properties of this concentration index are examined; in particular, a series of unit root tests are employed to examine whether shocks to the index are temporary. Findings indicate that the geographical concentration of venture capital is increasing over time but shocks are temporary.


Venture capital investments Regions Shocks Unit root tests Concentration 

JEL Classification

G24 R12 C32 


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Copyright information

© Springer-Verlag Berlin Heidelberg 2017

Authors and Affiliations

  1. 1.Hull College of BusinessAugusta UniversityAugustaUSA

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