Using a sample of acquisitions of unlisted firms completed by public companies from 17 Western European countries over the period 2003-2008, this study investigates whether private equity (PE)-backing of acquired firms has an impact on announcement period abnormal returns to acquirers. 12.5% of...

La complexité des contrats financiers en capital-risque a été observée à de nombreuses reprises (Kaplan et Strömberg, 2003 ; Sahlman, 1990). Dans ce papier, nous examinons la relation entre les choix contractuels effectués par les capitaux-risqueurs et les caractéristiques de ces...

This paper explores the relationship between venture capitalists (VCs)’ financial contracts and the characteristics of these VCs. Analyzing VCs' responses to our questionnaire, we find that VCs’ contractual behaviors differ according to affiliation and experience. VCs working for independent...