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The Decision of Venture Capitalists on Timing and Extent of IPOs
Tykvová, Tereza - 2003
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/10010298130
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Welche Regionen profitieren von Venture Capital-Aktivitäten?
Engel, Dirk - 2002
Mit der Venture Capital (VC)-Finanzierung als Teil eines regionalen Innovationssystems sind Erwartungen verbunden, die Kommerzialisierung neuer Forschungsergebnisse in marktfähige Produkte in einer Region zu fördern. In Erwartung positiver Effekte eines solchen Kapitalzuflusses in eine Region...
Persistent link: https://www.econbiz.de/10010298085
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Firm Level Implications of Early Stage Venture Capital Investment: An Empirical Investigation
Keilbach, Max; Engel, Dirk - 2002
The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms …
Persistent link: https://www.econbiz.de/10010297278
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Innovation Activities Abroad and the Effects of Liability of Foreignness: Where it Hurts
Sofka, Wolfgang - 2006
The innovation activities of foreign subsidiaries have been identified as an important source of competitive advantage … foreignness). We derive potential stumbling blocks in the innovation process theoretically and argue that these materialize as … innovation activities in Germany from various sectors. We find that foreign-controlled firms are not challenged by liability of …
Persistent link: https://www.econbiz.de/10010297537
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Specialized search and innovation performance: evidence across Europe
Sofka, Wolfgang; Grimpe, Christoph - 2009
known about how the direction of search strategies influences innovation performance. In this paper, we argue that firms … that being open for innovation generally pays off. However, both moderating factors have a crucial role to play: On the one … novel knowledge and to enhance innovation performance. We develop targeted management recommendations based on these results. …
Persistent link: https://www.econbiz.de/10010298788
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Resource allocation flexibility for innovation performance: The effects of breadth, uncertainty, and selectiveness
Klingebiel, Ronald; Rammer, Christian - 2011
Our study shows empirically that the choice of resource allocation strategy affects innovation performance. A policy of … allocating resources to a broader range of innovation projects increases sales of new products, especially if these are truly … stronger for firms that allocate resources more selectively at later stages of the innovation process. Based on these results …
Persistent link: https://www.econbiz.de/10010307838
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Is the Behavior of German Venture Capitalists Different? Evidence from the Neuer Markt
Tykvová, Tereza - 2003
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...
Persistent link: https://www.econbiz.de/10010297295
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Who Are the True Venture Capitalists in Germany?
Tykvová, Tereza - 2004
In this paper, we analyze the investment and divestment patterns of different types of venture capitalists. Using a data set em- bracing all venture-backed IPOs that occurred on Germany's Neuer Markt we investigate whether the governance structures, objectives, abilities and track records of...
Persistent link: https://www.econbiz.de/10010297317
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The Birth of German Biotechnology Industry: Did Venture Capital run the Show?
Heneric, Oliver; Engel, Dirk; Champenois, Claire - 2004
The goal of this paper is to point out the role played by private equity investors (venture-capital companies and corporate investors) in the emergence of a new biotechnology industry in Germany in the second half of the 90?s. This analysis takes into account the different business models and...
Persistent link: https://www.econbiz.de/10010297325
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Are IPOs of Different VCs Different?
Tykvová, Tereza; Walz, Uwe - 2004
This paper sets out to analyze the influence of different types of venture capitalists on the performance of their portfolio firms around and after IPO. We investigate the hypothesis that different governance structures, objectives, and track records of different types of VCs have a significant...
Persistent link: https://www.econbiz.de/10010297354