We study the returns the venture capital and private equity investment from 221 venture capital and private equity funds that are part of 72 venture capital and private equity firms, 5040 entrepreneurial firms (3826 venture capital and 1214 private equity), and spanning 32 years (1971 2003) and...

Diese Arbeit analysiert die wesentlichen Elemente der Vertragsstrukturen in der Venture Capital-Industrie. Aufbauend auf einem sehr umfangreichen und detaillierten Datensatz, der die Verträge zwischen Venture Capital-Investoren und deren Portfoliounternehmen abbildet, werden die Kontroll-,...

The main objective of the present paper is to disentangle observed differences in the design of contracts across VC types into firm selection effects and corporate governance differences between VC types (different contracts). Based on a theoretical approach developed in the first part of the...

We analyze governance with a dataset on investments of venture capitalists in 3848 portfolio firms in 39 countries from North and South America, Europe and Asia spanning 1971-2003. We find that cross-country differences in Legality have a significant impact on the governance structure of...

This paper investigates the financial contracting behavior of German venture capitalists against the results of recent theoretical work on the design of venture capital contracts, especially with regard to the use of convertible securities. First, we identify a special feature of the German...

Affairs support structures (SSA) is a clearly defined structures, which provides a range of facilities and / or spaces for economic activities of production and services (except those that are not financed under ERDF rules). These are aimed at attracting investment and unlocking the potential of...

The specific objective of this area of intervention is to improve the quality of healthcare infrastructure and territorial division - their regional balance in the country, to ensure equal access of citizens to health services.

Every enterprise develops the activity using both equity and borrowed capital, different one by the other through the generated/engendered costs. The financial risk determines the variability of result indicators, thanks to the financial structure of enterprise modification. Due the lack of own...

Profitability is a management concept with the objective of assessment bank's results from efficiency point of view both for entirely activity and for differently management compounds.From conceptual point of view, profitability represents the modality to achieve the major goal of bank's...

The main objective of the present paper is to disentangle observed differences in the design of contracts across VC types into firm selection effects and corporate governance differences between VC types (different contracts). Based on a theoretical approach developed in the first part of the...