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Affiliated and independent venture capitalists: early stages screening and the syndication / leverage trade-off
Nasica, Eric; Torre, Dominique - HAL - 2008
analyses comparatively the two technologies: both IVCs and AVCs take the asymmetric risk in seed and are backed by hedge funds … classes of risk but in other cases they compete on the same ones. The more astonishing observation is that one may observe … situations where the two institutions choose to eliminate the projects corresponding to intermediate levels of risk and to …
Persistent link: https://www.econbiz.de/10008793553
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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
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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
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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
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L'influence des marchés financiers sur les investissements en capital-risque : une comparaison Europe - Etats-Unis
Nasica, Eric; Legrand, Muriel Dal-Pont; 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. Ceci n'est pas surprenant dans la mesure où des anticipations d'introductions...
Persistent link: https://www.econbiz.de/10008793806
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Financing early-stage ventures: the role of uncertainty and financial markets in the investment choices of venture capitalists
Nasica, Eric; Dufour, Dominique - HAL - 2009
Our paper sheds light on the reasons for which a rational venture capitalist decides to reallocate his or her portfolio from later to early-stage investment. We explain why, during certain periods, there is a strong correlation between the performance of financial markets and the funds invested...
Persistent link: https://www.econbiz.de/10008794401
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Skills and financial Incentives: matching funds providers and syndicates in venture capital investments
Nasica, Eric; Torre, Dominique - HAL - 2010
financial risk has to meet managerial skills able to screen the projects, then to increase the number and the return of the …, according to their own skills and the quality of the syndicates. The influence of the level of risk and of the shape of the …
Persistent link: https://www.econbiz.de/10008794845
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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/10008796034
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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
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The survival of venture capital backed companies : an analysis of the French case
Pommet, Sophie - HAL - 2011
time duration model to explain the probability of exit. Second, we apply a competing risk model to account for …
Persistent link: https://www.econbiz.de/10010559869