Publications by category
Books
Burgel O, Fier A, Licht G, Murray GC (2004).
The Internationalization of Young High-Tech Firms. Mannnheim, Physica Verlag.
Abstract:
The Internationalization of Young High-Tech Firms
Abstract.
Journal articles
Murray GC, Cowling M, Coeurduroy R (2012). Adolescent Firm Survival and Internationalisation. International Small Business Journal
Murray GC, Maula M, Autio E (2009). Corporate venture capital and the risks and rewards for portfolio companies. Journal of Business Venturing
Licht G, Murray GC, Woywode M (2009). Timing of International Market Entry of UK and German High-Tech Start-Ups. Betriebswirtschaft/German Journal of Management(1), 83-105.
Murray GC, Hill S, Birkinshaw J, Maula M (2009). Transferability of the venture capital model to the corporate context: implications for the performance of corporate venture units. Strategic Entrepreneurship Journal
Coeurduroy R, Murray GC (2008). Institutional Environments and the location decisions of Start-ups: Evidence from the first international market entries of new technology-based firms.
Journal of International Business Studies,
1(39), 670-687.
Abstract:
Institutional Environments and the location decisions of Start-ups: Evidence from the first international market entries of new technology-based firms
, R. and , G. C. 2008 “Institutional New-technology-based firms (NTBFs) embarking on a strategy of rapid
internationalisation choose foreign market entries that minimise transaction
costs and the related risks of failure. Means to reduce the young firms’
vulnerability to the appropriation of intellectual capital are particularly
important influences on early foreign market choices. We explore the effect
of the institutional dimension, specifically the national regulatory environment,
on the location choices and the speed of internationalisation by British and
German NTBFs. We provide evidence that entrepreneurial young firms choose
to enter country markets offering better regulatory protection for their
intellectual property. This decision is moderated by a home regulatory regime
bias. In contrast, we observe that the speed of internationalisation is influenced
less by the foreign regulatory regime and more by industry and firm
characteristics. We also observe that managerial experience influences the
location choices of NTBFs facing regulatory hazards.
Abstract.
Coeurderoy R, Murray G (2008). Regulatory environments and the location decision: evidence from the early foreign market entries of new-technology-based firms.
Journal of International Business Studies,
39(4), 670-687.
Full text.
DOI.
Dimov D, Murray GC (2007). An examination of the determinants of the incidence and scale of seed capital investment activity by venture capital firms 1962-2002.
Small Business Economics,
30(2), 127-152.
Full text.
Dimov, D. (2007). Determinants of the Incidence and Scale of Seed Capital Investments by Venture Capital Firms.
Small Business Economics DOI.
Murray GC, Jääskeläinen M, Maula M (2007). Profit distribution and compensation structures in publicly and privately funded hybrid venture capital funds.
Research Policy,
36(7), 913-929.
Full text.
DOI.
Murray GC, Autio E, Maula MVJ (2005). Corporate Venture Capitalists and Independent Venture Capitalists: What do they Know, Who do they Know and should Entrepreneurs Care?.
Venture Capital: an International Journal of Entrepreneurial Finance,
7(1), 3-21.
DOI.
Maula MVJ, Autio E, Murray GC (2003). Prerequisites for the creation of social capital and subsequent knowledge acquisition in corporate venture capital. Venture Capital: an International Journal of Entrepreneurial Finance, 5(2), 117-134.
Maula M, Murray GC (2002). Complementary Value-Adding Roles of Corporate Venture Capital and Independent Venture Capital Investors. Journal of Bio-Law, 5(2), 29-34.
Murray GC, Lockett A, Wright M (2002). Do UK Venture Capitalists Still have a Bias Against Investment in New Technology Firms?.
Research Policy,
31(6), 1009-1031.
DOI.
Stray S, Bridgewater S, Murray GC (2001). The Internationalisation Process of Small, Technology-based Firms: Market Selection, Mode Choice and Degree of Internationalisation. Journal of Global Marketing, 15(1), 7-29.
Chapters
Murray GC, Murray GC, Lingelbach D (2009). Twelve. Meditations on Venture Capital. In Cumming D (Ed)
Companion to Venture Capital, USA: John Wiley & Sons, Inc.
Abstract:
Twelve. Meditations on Venture Capital
Abstract.
Full text.
Burgel O, Murray GC (2007). The International Market Entry Choices of Start-up Companies in High-Technology Industries. In Oviatt BM, Phillips P (Eds.) International Entrepreneurship, London: Edward Elgar, 33-62.
Murray GC (2007). Venture Capital and Government Policy. In Landstrom H (Ed) Handbook of Research on Venture Capital, London: Edward Elgar, 113-151.
Maula MVJ, Autio E, Murray GC (2006). Corporate Venture Capital and the Value-Added for Technology-Based New Firms. In Wiklund J, Dimov D, Katz JA, Shepherd D (Eds.) Entrepreneurship: Frameworks and Empirical Investigations from forthcoming Leaders of European Research, Oxford: Elsevier.
Maula MVJ, Murray GC (2006). Risk capital for growing world-class companies: challenges for European policy. In Vihriälä V, Lindström M (Eds.)
Challenges of Globalisation for Europe and Finland, Helsinki, Finland: Prime Minister's Office.
Full text.
Dimov D, Murray GC (2006). Through a Glass Darkly: New Perspectives on the Equity Gap. In Clarysse B, Roure JB, Schamp T (Eds.) Entrepreneurship and the Financial Community: Starting up and Growing New Business, London: Edward Elgar Publishing.
Maula MVJ, Autio E, Murray GC (2005). Corporate Venture Capitalists and Independent Venture Capitalists: What Do They Know, Who Do They Know, and Should Entrepreneurs Care?. In Elfring T (Ed)
Corporate Entrepreneurship and Venturing, New York: Springer Verlag, 101-126.
Full text.
Coeurduroy R, Murray GC (2005). Legal Environments and. First International Market Entries: Evidence on the Internationalisation of New Technology-based Firms in Three European Countries. In Spithoven A, Teirlinck P (Eds.) Beyond Borders: Internationalisation of R&D Policy Implications for Small Open Economics, Elsevier.
Murray GC (2003). two sole authored journal papers reprinted witin. In Sapienza H, Wright M (Eds.) Venture Capital.
Maula MVJ, Murray GC (2002). Corporate Venture Capital and the Creation of Us Public Companies: the Impact of Sources of Venture Capital on the Performance of Portfolio Companies. In Lucier C, Nixon R (Eds.) Creating Value: Winners in the New Business Environment, Oxford: Blackwell.
Reports
Maula M, Murray GC (In Press).
Finnish Industry Investment ltd.: an International Evaluation. Ministry of Trade & Industry, 2003.
Full text.
Murray GC, Cowling M (2014).
Evaluation of the Danish Growth Fund:
Evaluation of activities, 2010–2012. Copenhagen, DAMVAD.
Full text.
Toschi L, Murray GC (2009). A cross-country review on Investment Readiness. How can small and medium size enterprises improve. their access to equity finance?. Department of Business Innovation and Skills, London.
Aiginger K, Breznitz D, Edquist C, Murray GC, Ottaviano G, Veugelers R (2009).
Evaluation of the Finnish
National Innovation System. Ministry of Employment and the Economy, Helsinki, Ministry of Employment and the Economy.
Abstract:
Evaluation of the Finnish
National Innovation System
Abstract.
Author URL.
Full text.
Nightingale P, Cowling M, Dannreuther C, Hopkins M, Mason C, Murray GC, Siepel J, Tidd J (2009). From Funding Gaps to Thin Markets: the UK Support for Early Stage Venture Capital in the 21st Century. BVCA and NESTA, London.
Murray GC, Hyytinen A, Maula M (2009). Growth Entrepreneurship and Finance. inistry of Employment and the Economy, Helsinki.
Murray GC (2009).
International Review of Public-Private Venture Capital Fund Schemes. National Audit Office, London, NAO.
Abstract:
International Review of Public-Private Venture Capital Fund Schemes
Abstract.
Murray GC, Liu W (2009). Summary Report on Hybrid Venture. Capital Schemes. National Audit Office, London.
Murray GC (2008).
The Estoril Declaration. EC/Portuguese Government for the Portuguese European Union Presidency, Lisbon & Brussels, European Commission/Ministry of Economics, Portugal.
Abstract:
The Estoril Declaration
Abstract.
Cowling MC, Bates P, Murray GC, Jagger N (2008). Venture Capital Trusts (VCT): an Evaluation. London: Report for HM Treasury and HM Revenue and Customs. HMRC, London, HMSO.
Murray GC (2008). World Bank Venture Capital Report – UK Case Study. World Bank, Washington, DC.
Cowling MC, Bates P, Murray GC, Jagger N (2007). Enterprise Investment Scheme and Venture Capital Trusts: an Evaluation. HM Revenue and Customs and HM Treasury.
Murray GC (2007). Financing Innovation: from Ideas to Markets. Ministry of Economics, Lisbon.
Maula M, Murray GC, Jääskeläinen M (2007). Public Financing of Young Innovative Companies in Finland. Report to the Finnish Ministry of Trade and. Ministry of Trade & Industry, Finland and Industry MTI Publications, Helsinki, Ministry of Trade & Industry, Finland and Industry MTI Publications.
Cowling M, Fryges H, Licht G, Murray GC (2007).
The Survival & Growth of ‘Adolescent’ High-Tech Firms in Germany and the UK, 1997-2003. Anglo-German Foundation, London & Berlin.
Full text.
Murray GC, Maula M (2006). Risk Capital for World Class Companies: Challenges for European Policy.
Murray GC, Maula M, PriceWaterhouseCoopers (2005). Enterprise Ireland Seed and Venture Capital Funds Programme. Dublin.
Maula M, Murray GC (2005). Review of SITRA's VC Fund Proposals. Finland.
Harding R, Cowling M, Murray GC (2003). Assessing the Scale of the 'Equity Gap' in the UK Economy. H.M. Treasury and Small Business Service.
Birkinshaw J, Murray GC, van Basten Batenburg R (2002). Corporate Venturing: the State of the Art and the Prospects for the Future. London Business School, London.
Brugel O, Fier A, Licht G, Murray GC (2001).
The Rapid Internationalisation of High Tech Young Firms in Germany and the United Kingdom. Anglo-German Foundation for the Study of Industrial Society, AGF.
Full text.
Internet publications
Murray GC, Dimov D (2007). Determinants of the Incidence and Scale of Seed Capital Investments by Venture Capital Firms.
DOI.
Publications by year
In Press
Maula M, Murray GC (In Press).
Finnish Industry Investment ltd.: an International Evaluation. Ministry of Trade & Industry, 2003.
Full text.
Murray GC, Cowling MC (In Press). The "Virtuous Circle" of Informal Investment Activity: Evidence from the UK.
Working Papers on the Web Full text.
2014
Murray GC, Cowling M (2014).
Evaluation of the Danish Growth Fund:
Evaluation of activities, 2010–2012. Copenhagen, DAMVAD.
Full text.
2012
Murray GC, Cowling M, Coeurduroy R (2012). Adolescent Firm Survival and Internationalisation. International Small Business Journal
2009
Toschi L, Murray GC (2009). A cross-country review on Investment Readiness. How can small and medium size enterprises improve. their access to equity finance?. Department of Business Innovation and Skills, London.
Murray GC, Maula M, Autio E (2009). Corporate venture capital and the risks and rewards for portfolio companies. Journal of Business Venturing
Aiginger K, Breznitz D, Edquist C, Murray GC, Ottaviano G, Veugelers R (2009).
Evaluation of the Finnish
National Innovation System. Ministry of Employment and the Economy, Helsinki, Ministry of Employment and the Economy.
Abstract:
Evaluation of the Finnish
National Innovation System
Abstract.
Author URL.
Full text.
Nightingale P, Cowling M, Dannreuther C, Hopkins M, Mason C, Murray GC, Siepel J, Tidd J (2009). From Funding Gaps to Thin Markets: the UK Support for Early Stage Venture Capital in the 21st Century. BVCA and NESTA, London.
Murray GC, Hyytinen A, Maula M (2009). Growth Entrepreneurship and Finance. inistry of Employment and the Economy, Helsinki.
Murray GC (2009).
International Review of Public-Private Venture Capital Fund Schemes. National Audit Office, London, NAO.
Abstract:
International Review of Public-Private Venture Capital Fund Schemes
Abstract.
Murray GC, Liu W (2009). Summary Report on Hybrid Venture. Capital Schemes. National Audit Office, London.
Licht G, Murray GC, Woywode M (2009). Timing of International Market Entry of UK and German High-Tech Start-Ups. Betriebswirtschaft/German Journal of Management(1), 83-105.
Murray GC, Hill S, Birkinshaw J, Maula M (2009). Transferability of the venture capital model to the corporate context: implications for the performance of corporate venture units. Strategic Entrepreneurship Journal
Murray GC, Murray GC, Lingelbach D (2009). Twelve. Meditations on Venture Capital. In Cumming D (Ed)
Companion to Venture Capital, USA: John Wiley & Sons, Inc.
Abstract:
Twelve. Meditations on Venture Capital
Abstract.
Full text.
2008
Coeurduroy R, Murray GC (2008). Institutional Environments and the location decisions of Start-ups: Evidence from the first international market entries of new technology-based firms.
Journal of International Business Studies,
1(39), 670-687.
Abstract:
Institutional Environments and the location decisions of Start-ups: Evidence from the first international market entries of new technology-based firms
, R. and , G. C. 2008 “Institutional New-technology-based firms (NTBFs) embarking on a strategy of rapid
internationalisation choose foreign market entries that minimise transaction
costs and the related risks of failure. Means to reduce the young firms’
vulnerability to the appropriation of intellectual capital are particularly
important influences on early foreign market choices. We explore the effect
of the institutional dimension, specifically the national regulatory environment,
on the location choices and the speed of internationalisation by British and
German NTBFs. We provide evidence that entrepreneurial young firms choose
to enter country markets offering better regulatory protection for their
intellectual property. This decision is moderated by a home regulatory regime
bias. In contrast, we observe that the speed of internationalisation is influenced
less by the foreign regulatory regime and more by industry and firm
characteristics. We also observe that managerial experience influences the
location choices of NTBFs facing regulatory hazards.
Abstract.
Coeurderoy R, Murray G (2008). Regulatory environments and the location decision: evidence from the early foreign market entries of new-technology-based firms.
Journal of International Business Studies,
39(4), 670-687.
Full text.
DOI.
Murray GC (2008).
The Estoril Declaration. EC/Portuguese Government for the Portuguese European Union Presidency, Lisbon & Brussels, European Commission/Ministry of Economics, Portugal.
Abstract:
The Estoril Declaration
Abstract.
Cowling MC, Bates P, Murray GC, Jagger N (2008). Venture Capital Trusts (VCT): an Evaluation. London: Report for HM Treasury and HM Revenue and Customs. HMRC, London, HMSO.
Murray GC (2008). World Bank Venture Capital Report – UK Case Study. World Bank, Washington, DC.
2007
Dimov D, Murray GC (2007). An examination of the determinants of the incidence and scale of seed capital investment activity by venture capital firms 1962-2002.
Small Business Economics,
30(2), 127-152.
Full text.
Dimov, D. (2007). Determinants of the Incidence and Scale of Seed Capital Investments by Venture Capital Firms.
Small Business Economics DOI.
Murray GC, Dimov D (2007). Determinants of the Incidence and Scale of Seed Capital Investments by Venture Capital Firms.
DOI.
Cowling MC, Bates P, Murray GC, Jagger N (2007). Enterprise Investment Scheme and Venture Capital Trusts: an Evaluation. HM Revenue and Customs and HM Treasury.
Murray GC (2007). Financing Innovation: from Ideas to Markets. Ministry of Economics, Lisbon.
Murray GC, Jääskeläinen M, Maula M (2007). Profit distribution and compensation structures in publicly and privately funded hybrid venture capital funds.
Research Policy,
36(7), 913-929.
Full text.
DOI.
Maula M, Murray GC, Jääskeläinen M (2007). Public Financing of Young Innovative Companies in Finland. Report to the Finnish Ministry of Trade and. Ministry of Trade & Industry, Finland and Industry MTI Publications, Helsinki, Ministry of Trade & Industry, Finland and Industry MTI Publications.
Burgel O, Murray GC (2007). The International Market Entry Choices of Start-up Companies in High-Technology Industries. In Oviatt BM, Phillips P (Eds.) International Entrepreneurship, London: Edward Elgar, 33-62.
Cowling M, Fryges H, Licht G, Murray GC (2007).
The Survival & Growth of ‘Adolescent’ High-Tech Firms in Germany and the UK, 1997-2003. Anglo-German Foundation, London & Berlin.
Full text.
Murray GC (2007). Venture Capital and Government Policy. In Landstrom H (Ed) Handbook of Research on Venture Capital, London: Edward Elgar, 113-151.
2006
Maula MVJ, Autio E, Murray GC (2006). Corporate Venture Capital and the Value-Added for Technology-Based New Firms. In Wiklund J, Dimov D, Katz JA, Shepherd D (Eds.) Entrepreneurship: Frameworks and Empirical Investigations from forthcoming Leaders of European Research, Oxford: Elsevier.
Murray GC, Maula M (2006). Risk Capital for World Class Companies: Challenges for European Policy.
Maula MVJ, Murray GC (2006). Risk capital for growing world-class companies: challenges for European policy. In Vihriälä V, Lindström M (Eds.)
Challenges of Globalisation for Europe and Finland, Helsinki, Finland: Prime Minister's Office.
Full text.
Dimov D, Murray GC (2006). Through a Glass Darkly: New Perspectives on the Equity Gap. In Clarysse B, Roure JB, Schamp T (Eds.) Entrepreneurship and the Financial Community: Starting up and Growing New Business, London: Edward Elgar Publishing.
2005
Maula MVJ, Autio E, Murray GC (2005). Corporate Venture Capitalists and Independent Venture Capitalists: What Do They Know, Who Do They Know, and Should Entrepreneurs Care?. In Elfring T (Ed)
Corporate Entrepreneurship and Venturing, New York: Springer Verlag, 101-126.
Full text.
Murray GC, Autio E, Maula MVJ (2005). Corporate Venture Capitalists and Independent Venture Capitalists: What do they Know, Who do they Know and should Entrepreneurs Care?.
Venture Capital: an International Journal of Entrepreneurial Finance,
7(1), 3-21.
DOI.
Murray GC, Maula M, PriceWaterhouseCoopers (2005). Enterprise Ireland Seed and Venture Capital Funds Programme. Dublin.
Coeurduroy R, Murray GC (2005). Legal Environments and. First International Market Entries: Evidence on the Internationalisation of New Technology-based Firms in Three European Countries. In Spithoven A, Teirlinck P (Eds.) Beyond Borders: Internationalisation of R&D Policy Implications for Small Open Economics, Elsevier.
Maula M, Murray GC (2005). Review of SITRA's VC Fund Proposals. Finland.
2004
Burgel O, Fier A, Licht G, Murray GC (2004).
The Internationalization of Young High-Tech Firms. Mannnheim, Physica Verlag.
Abstract:
The Internationalization of Young High-Tech Firms
Abstract.
2003
Harding R, Cowling M, Murray GC (2003). Assessing the Scale of the 'Equity Gap' in the UK Economy. H.M. Treasury and Small Business Service.
Maula MVJ, Autio E, Murray GC (2003). Prerequisites for the creation of social capital and subsequent knowledge acquisition in corporate venture capital. Venture Capital: an International Journal of Entrepreneurial Finance, 5(2), 117-134.
Murray GC (2003). two sole authored journal papers reprinted witin. In Sapienza H, Wright M (Eds.) Venture Capital.
2002
Maula M, Murray GC (2002). Complementary Value-Adding Roles of Corporate Venture Capital and Independent Venture Capital Investors. Journal of Bio-Law, 5(2), 29-34.
Maula MVJ, Murray GC (2002). Corporate Venture Capital and the Creation of Us Public Companies: the Impact of Sources of Venture Capital on the Performance of Portfolio Companies. In Lucier C, Nixon R (Eds.) Creating Value: Winners in the New Business Environment, Oxford: Blackwell.
Birkinshaw J, Murray GC, van Basten Batenburg R (2002). Corporate Venturing: the State of the Art and the Prospects for the Future. London Business School, London.
Murray GC, Lockett A, Wright M (2002). Do UK Venture Capitalists Still have a Bias Against Investment in New Technology Firms?.
Research Policy,
31(6), 1009-1031.
DOI.
2001
Stray S, Bridgewater S, Murray GC (2001). The Internationalisation Process of Small, Technology-based Firms: Market Selection, Mode Choice and Degree of Internationalisation. Journal of Global Marketing, 15(1), 7-29.
Brugel O, Fier A, Licht G, Murray GC (2001).
The Rapid Internationalisation of High Tech Young Firms in Germany and the United Kingdom. Anglo-German Foundation for the Study of Industrial Society, AGF.
Full text.