Li, Yanzhao; Guo, Ju'e; Sun, Shaolong; Li, Yongwu - In: Financial innovation : FIN 8 (2022), pp. 1-24
venture capital (VC), this study proposes two kinds of time-inconsistent preferences (i.e., time-flow inconsistency and time … sophisticated venture capitalists, of which the latter three are time-inconsistent. We derive and compare the exit thresholds of … these four types of venture capitalists. The main results include: (1) time-inconsistent preferences accelerate the exits of …