Douglas J. Cumming

Associate Professor of Finance
B.Com. (Hons) McGill University, 1992
M.A. Queen’s University, 1993
J.D. [LL.B.] University of Toronto, 1998
Ph.D. University of Toronto, 1999
Professional Designation: CFA

 

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  Quadrangle Room: 3055A
Phone Number: 61 (0)2 9385 5709
Fax Number: 61 (0)2 9385 6347
Email Address: douglas.cumming@unsw.edu.au
 

C. V.

  • Download PDF file here

Research Interests

  • Venture Capital and Private Equity
  • Initial Public Offerings
  • Law and Finance

Publications and Working Papers 

A website with links to PDF files of articles by Douglas Cumming is at:
http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=75390

You may also email douglas.cumming@unsw.edu.au to have a paper sent to you directly.

PUBLICATIONS – JOURNAL ARTICLES

2004 “The Determinants of Venture Capital Portfolio Size: Empirical Evidence” Journal of Business, forthcoming.
2004 “Agency Costs, Institutions, Learning and Taxation in Venture Capital Contracting” Journal of Business Venturing, forthcoming.
2004 “Capital Structure in Venture Finance” Journal of Corporate Finance, forthcoming.
2004 “Venture Capitalist Value Added Activities, Fundraising and Drawdowns” (with Grant Fleming and Jo-Ann Suchard) Journal of Banking and Finance, forthcoming.
2004 “Boom, Bust and Litigation in Venture Capital Finance” (with Jeffrey MacIntosh) Willamette Law Review, forthcoming.
2003 “The Structure, Governance and Performance of UK Venture Capital Trusts” Journal of Corporate Law Studies 3(2), 401-427.
2003 “A Cross-Country Comparison of Full and Partial Venture Capital Exits” (with Jeffrey MacIntosh) Journal of Banking and Finance 27(3), 511-548.  Iddo Sarnat Award for the best paper published in the Journal of Banking and Finance in 2003.
2003 “Venture Capital Exits in Canada and the United States” (with Jeffrey MacIntosh) University of Toronto Law Journal 53, 101-200.  A shortened version of this paper is published in "Firm, Market and Strategic Factors in Venture Capital Exits" (with Jeffrey MacIntosh) Research in Banking and Finance, Vol.6 (I. Hasan and W.C. Hunter, Editors, Elsevier Science, 2005, forthcoming).  Another shortened version of this paper is published in “Venture Capital Buyback Exits in Canada and the United States” (with Jeffrey MacIntosh) FSR Forum (2003) 5(4), 36-45.
2002 "The Rationales Underlying Reincorporation and Implications for Canadian Corporations" (with Jeffrey MacIntosh) International Review of Law and Economics 22(3), 277-330.
2001 "Venture Capital Investment Duration in Canada and the United States" (with Jeffrey MacIntosh) Journal of Multinational Financial Management 11(4-5): 445-463.  An extended version of this paper is reprinted in "Economic and Institutional Determinants of Venture Capital Investment Duration" (with Jeffrey MacIntosh) Advances in the Study of Entrepreneurship, Innovation and Economic Growth, Vol.14 (Gary Libecap, Editor, JAI Press, 2002, pp. 125-159).
2001 "Settlement Disputes: Evidence from a Legal Practice Perspective" European Journal of Law and Economics 11(3): 249-280.
2000 "The Determinants of R&D Expenditures: A Study of the Canadian Biotechnology Industry" (with Jeffrey MacIntosh) Review of Industrial Organization (2000) 17(4): 357-370. (Lead Article)
2000 "The Role of Interjurisdictional Competition in Shaping Canadian Corporate Law" (with Jeffrey MacIntosh) International Review of Law and Economics (2000) 20(2): 141-186. (Lead Article)

PUBLICATIONS – BOOK CHAPTERS

2004 “Law, Finance and the Canadian Venture Capital Cycle” (with Jeffrey MacIntosh) in F. Gorbet and C. Wadell, eds. Financial Services in Canada (McGill Queen’s University Press, forthcoming). To be reprinted by the C.D. Howe Institute, a public policy think tank in Toronto, Canada.
2004 “Comparative Venture Capital Governance: Private Versus Labour-Sponsored Funds” (with Jeffrey MacIntosh) in V. Kanniainen and C. Keuschnigg, eds. Venture Capital, Entrepreneurship and Public Policy (MIT Press, forthcoming).
2004 "The Extent of Venture Capital Exits: Evidence from Canada and the United States" (with Jeffrey MacIntosh) in L.D.R. Renneboog and J. McCahery, eds., Venture Capital Contracting and the Valuation of High Technology Firms (Oxford University Press), Chapter 15. http://www.oup.co.uk/isbn/0-19-927013-9
2003 “Canadian Labor-Sponsored Venture Capital Corporations: Bane or Boon?” (with Jeffrey MacIntosh) in A. Ginsberg and I. Hasan, eds., New Venture Investment: Choices and Consequences (Elsevier Science Academic Press), pages 169-200.
1999 "Consumer Controversy and the Funding of Biotechnology Research" (with Jeffrey MacIntosh) in M. Knoppers and A.D. Mathios, eds., Biotechnology and the Consumer (1999, Dordrecht/Boston: Kluwer Academic Publishers), pages 411-456.