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 … make use of four main categories of variables to proxy for value-added activities and risks that explain venture capital …

This paper proposes an intertemporal model of venture capital investment with screening and advising where the venture … distribution of profits. Finally, we develop a formal version of the venture capital cycle by extending the basic setup to a simple … model of venture capital supply and demand. …

Venture capital (VC) investment has long been conceptualized as a local business, in which the VC's ability to source … venture capital financing in the period 1980-2009 suggests that cross-border investment practice, in terms of deal sourcing …

Using a unique, hand-collected database of all venture-backed firms listed on Germany´s Neuer Markt, we analyze the … history of venture capital financing of these firms before the IPO and the behavior of venture capitalists at the IPO. We can … detect significant differences in the behavior and characteristics of German vs. foreign venture capital firms. The …

After nearly two decades of US leadership during the 1980s and 1990s, are Europe's venture capital (VC) markets in the …; determining the type of exit - if any - each particular firm's investors choose for the venture. …

Die vorliegende empirische Studie analysiert die Vertragsgestaltung zwischen Investoren und europäischen Venture …-Probleme. Hierzu werden 122 Fondsprospekte sowie 46 Gesellschafterverträge von europäischen Venture Capital-Fonds ausgewertet, die in … den Jahren 1996 bis 2001, der ersten großen Boomphase des europäischen Venture Capital- Marktes, aufgelegt wurden. Während …

We analyze the desinvestment decision of venture capitalists in the course of an IPO of their portfolio firms. The … capital market learns of the project quality only in the period following the IPO. Venture capitalists with high-quality firms … face a trade-off between immediately selling their stake in the venture at a price below the true value and having to wait …

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 …

We analyze the degree of contract completeness with respect to staging of venture capital investments using a hand …