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capital market learns of the project quality only in the period following the IPO. Venture capitalists with high-quality firms …
Persistent link: https://www.econbiz.de/10010298232
theoretical work on the design of venture capital contracts, especially with regard to the use of convertible securities. First …
Persistent link: https://www.econbiz.de/10010298233
We analyze the venture capitalist's decision on the timing of the IPO, the offer price and the fraction of shares he sells in the course of the IPO. A venture capitalist may decide to take a company public or to liquidate it after one or two financing periods. A longer venture capitalist's...
Persistent link: https://www.econbiz.de/10010298242
We present a survey on the role of initial public offerings (IPOs) and venture capital (VC) in Germany after the Second …. The picture for venture capital financing is not much different from that provided by IPOs in Germany. For a long time … venture capital financing was hardly significant, particularly as a source of early stage financing. The unprecedented boom on …
Persistent link: https://www.econbiz.de/10010298243
This paper analyses the effects of the Initial Public Offering (IPO) market on real investment decisions in emerging industries. We first propose a model of IPO timing based on divergence of opinion among investors and short-sale constraints. Using a real option approach, we show that firms are...
Persistent link: https://www.econbiz.de/10010298253
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. …
Persistent link: https://www.econbiz.de/10010298254
This paper aims to analyze the impact of different types of venture capitalists on the performance of their portfolio firms around and after the IPO. We thereby investigate the hypothesis that different governance structures, objectives and track record of different types of VCs have a...
Persistent link: https://www.econbiz.de/10010298255
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 … capital and private equity returns: market and legal environment, VC characteristics, entrepreneurial firm characteristics …
Persistent link: https://www.econbiz.de/10010298258
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...
Persistent link: https://www.econbiz.de/10010298260
framework' to facilitate a general understanding of what constitutes the current state of computing adequate capital … capital charges depending on the security design of asset securitisation transactions, we do not engage in a profound analysis …
Persistent link: https://www.econbiz.de/10010298262