Similar Search Results

Startup valuation by venture capitalists: an empirical study

Miloud, Tarek; Aspelund, Arild; Cabrol, Mathieu - HAL - 2012

How to value a new venture is critical in entrepreneurial financing. This article develops an integrated theoretical framework to examine whether venture capitalists' valuation of a new venture can be explained by factors identified in the strategy theories as important to firm performance....

Persistent link: https://www.econbiz.de/10010746975

Framing Effects as Violations of Extensionality

Bourgeois-Gironde, Sacha; Giraud, Raphaël - HAL - 2009

Framing effects occur when different descriptions of the same decision problem give rise to divergent decisions. They can be seen as a violation of the decisiontheoretic version of the principle of extensionality (PE). The PE in logic means that two logically equivalent sentences can be...

Persistent link: https://www.econbiz.de/10008793259

BOARD OF DIRECTORS AND THE PRICING OF INITIAL PUBLIC OFFERINGS (IPOS): DOES THE EXISTENCE OF A PROPERLY STRUCTURED BOARD MATTER? EVIDENCE FROM FRANCE

Mnif, Anis - HAL - 2009

existence of an audit committee) and underpricing of 133 Initial Public Offerings (IPOs) in France between 2000 and 2004 …. Empirical evidence suggests that there is a positive effect of board size on underpricing and a negative association between the … proportion of independent directors and underpricing. However, CEO duality as well as existence of an audit committee have no …

Persistent link: https://www.econbiz.de/10008792500

Using ex post data to estimate the hurdle rate of abatement investments - an application to sulfur emissions from the Swedish pulp and paper industry and energy sector

Löfgren, Åsa; Millock, Katrin; Nauges, Céline - HAL - 2008

We propose a method for estimating hurdle rates for firms' investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The econometric...

Persistent link: https://www.econbiz.de/10010750596

Long-term risk management for utility companies: the next challenges

Aïd, René - HAL - 2008

Since the energy markets liberalisation at the beginning of the 1990s in Europe, electricity monopolies have gone through a profound evolution process. From an industrial organisation point of view, they lost their monopoly on their historical business, but gained the capacity to develop in any...

Persistent link: https://www.econbiz.de/10008794408

Syndication in private equity industry: comparing the strategies of independent and captive venture capitalists

Dufour, Dominique; Nasica, Eric; Torre, Dominique - HAL - 2013

This paper aims to connect two strands of the venture capital literature: the inter-relationships among venture capitalists (VCs) on the one hand, and between VCs and their funds providers on the other hand. It examines the existence of a relationship between type of fund provider and skill...

Persistent link: https://www.econbiz.de/10010933147

Private Equity investment performance : Do social ties between venture capitalists and CEOs matter

Bonnet, Christophe - HAL - 2001

Our area of interest is the relationship between Private Equity professionals and the CEOs of companies. Building on previous research on board-CEO relationship and on venture capital and management buyout governance, we aim at complementing the frequently used agency theory perspective by way...

Persistent link: https://www.econbiz.de/10010549128

Venture capital in bank - and market - based economies

Saillard, Adeline; Url, Thomas - HAL - 2011

The determinants of venture capital investment have attracted a significant amount of attention from both academics and policymakers. We use a version of the Keuschnigg-Nielsen model for venture-capital-financed projects to condition our analysis on a reasonable set of exogenous variables but we...

Persistent link: https://www.econbiz.de/10010605320

Incertitude, rationalité et confiance dans les choix d'investissement : une analyse de la relation entre marchés financiers et capital-risque

Nasica, Eric; Dufour, Dominique - HAL - 2007

La littérature consacrée aux déterminants du capital-risque insiste sur la relation positive existant entre le montant des fonds investis dans cette activité et la situation prévalant sur les marchés financiers. Cependant, au cours des dernières années, la relation entre marchés...

Persistent link: https://www.econbiz.de/10008788911

Corporate Venturing, Allocation of Talent, and Competition for Star Managers

Bettignies, Jean-Etienne De; Chemla, Gilles - HAL - 2008

We provide new rationales for corporate venturing (CV), based on competition for talented managers. As returns to venturing increase, firms engage in CV for reasons other than capturing these returns. First, higher venturing returns increase managerial compensation, to which firms respond by...

Persistent link: https://www.econbiz.de/10008791748