We report on a comprehensive study of the electrical and electro-optical properties of 795 nm vertical cavity surface emitting lasers (VCSELs) designed for chip scale Rb atomic clocks. We highlight several key findings including the observation that the current flow at moderate bias levels comprises several parallel paths which are identified by an analysis of the I−V characteristic also confirmed by a numerical simulation. Resistance is a key parameter in any VCSEL. We analyze it in detail at all bias levels and find that above transparency, when the VCSEL enters the high injection regime, the current flow mechanism is modified significantly from an exponential to a power law characteristic. Consequently, resistance attains a nonlinear contribution which is quadratic in the spontaneous emission regime and quasi-linear above the threshold. This nonlinear contribution is not considered in common models. The optoelectronic properties are strongly correlated with the electrical characteristics what allow to explain several peculiarities of the VCSEL performance. We designed and fabricated the VCSELs according to the requirements of miniature Rb atomic clocks, including optimal operation at high temperatures. Their minimum threshold occurs at 363 K where they emit at 794.7 nm. The modal and polarization discrimination in the bias range where these VCSELs operate in practical miniature atomic clocks is well above 30 dB.