London School of EconomicsSU | Alternative Investments Conference
Dr. Cressy is Professor of Entrepreneurship and Innovation at Birmingham University Business School and Director of the School’s Entrepreneurship and Innovation Centre (EIC) there. Previous appointments include Professor of Finance at Cass Business School, London and Professor of Finance and Director of Research at Hull University Business School. Before that he was Assistant Director of Warwick University Business School’s Centre for Small and Medium Enterprises.
His research, in the area of entrepreneurship and entrepreneurial finance has emphasised the role of human capital and learning in determining both capitalisation of the business and its performance. An early seminal finding in this area is the existence of a universal failure curve for smaller businesses and an analysis of its dependence on the human capital embodied in the business. However, his more recent research in venture capital has explained why larger UK venture capital funds have greater returns (IRR) and how specialization in private equity investment can enhance performance. Current work includes an analysis of the determinants of IPO success for biotech startups in the UK, Germany and the US. Professor Cressy’s professional activities include acting as a consultant for the EC’s Enterprise Directorate, contributions to Venture Capitalist training programmes and regular contributions to EU reports. In the UK he was a member of the Bank of England’s former panel on small business finance chaired by Eddie George, the then Governor, and has advised and consulted with the DTI on small business matters. Regarding journal management Prof. Cressy is a member of the editorial boards of Venture Capital: An international journal of entrepreneurial finance, The International Journal of Entrepreneurship Education and Small Business Economics.