PRINT THIS PAGE The legal road to replicating Silicon Valley14/01/2004. Source: The University of Cambridge and the University of Alberta School of Business. John Armour and Douglas Cumming 
The construction of a legal and fiscal environment conducive to venture capital and private equity activity is paramount for policymakers seeking to replicate the Silicon Valley phenomenon outside the US, according to John Armour of the University of Cambridge and Douglas Cumming of the University of Alberta School of Business. This study includes an exploration of the value of government subsidy programmes designed to jump-start venture capital markets, and the importance of temperate bankruptcy laws that stimulate entrepreneurial demand for venture capital
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John Armour, Centre for Business Research, Cambridge University, Top Floor, Judge Institute of Management, Trumpington Street, Cambridge CB2 1AG, 01223 765323, j.armour@cbr.cam.ac.uk
Douglas Cumming, B.Com.(Hons.) (McGill), M.A. (Queen’s), J.D. (Toronto), Ph.D. (Toronto), CFA, is an Assistant Professor of Finance, Economics and Law at the University of Alberta School of Business. Contact address: School of Business, University of Alberta, Edmonton, Alberta, Canada T6G 2R6, Tel: 1-780-492-0678, Fax: 1-780-492-3325, E-mail: Douglas.Cumming@ualberta.ca, or visit www.bus.ualberta.ca/dcumming
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