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The Role of Convertible Securities in Venture Capital Financing

Chang, Shih-Chung - East Asian Bureau of Economic Research (EABER) - 2009

entrepreneurs are better informed than the venture capitalists (VCs). We demonstrate that for a well-designed contract the … variability of the return is sufficiently large, the entrepreneurs will find it desirable to rely on convertible securities with … with which the entrepreneurs are awarded equity shares without investment outlays. We compare the different financing …

Persistent link: https://www.econbiz.de/10009365428

The Importance of Trust for Investment : Evidence From Venture Capital (Revision of DP 2009-43)

Da Rin, Marco; Bottazzi, L.; Hellmann, T. - Tilburg University, Center for Economic Research - 2010

We examine the effect of trust on financial investment and contracting decisions in a micro-economic environment where trust is exogenous. Using hand-collected data on European venture capital, we show that the Eurobarometer measure of trust among nations significantly affects investment...

Persistent link: https://www.econbiz.de/10011090711

Could The Irish Miracle Be Repeated in Hungary?

Acs, Zoltan; O'Gorman, Colm; Szerb, Laszlo; Terjesen, Siri - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2006

It is widely recognized that foreign direct investment (FDI) plays an important role in economic development. Internationalization theory is used to explore how inward FDI impacts entrepreneurial activity. Using data from the Global Entrepreneurship Monitor we find significant differences in...

Persistent link: https://www.econbiz.de/10005765260

Towards contemporary issues in the financial system

Chodnicka, Patrycja (contributor); … - Wydział Zarządzania, Uniwersytet Warszawski

Changes in the financial market and attempts at implementation of prudential regulation proposals after the recent financial crisis resulted in the scientific conference entitled International Conference on Management, Banking and Finance, held at the Faculty of Management, University of Warsaw,...

Persistent link: https://www.econbiz.de/10011162565

Spotfire : Managing a Multinational Start-Up

Kuemmerle, Walter - 2014

capitalists and entrepreneurs. Specifically, the case shows how venture capitalists add value beyond their invested capital but …

Persistent link: https://www.econbiz.de/10012752799

INDIAN VENTURE CAPITALISTS (VCs) INVESTMENT EVALUATION CRITERIA

Mishra, Asim - EconWPA - 2005

criteria was developed on previously developed lists. The criteria fell into six groups: the entrepreneur’s personality, the … entrepreneur’s experience, characteristics of the product or service, characteristics of the market, financial consideration and … entrepreneur’s personality and experience are seen as being primary indicators of the venture’s potential. …

Persistent link: https://www.econbiz.de/10005134795

Financing Technology-Based Small Firms in Europe: a review of the empirical evidence.

Revest, Valérie; Sapio, Sandro - Laboratory of Economics and Management (LEM), Scuola … - 2008

This paper reviews the empirical evidence of the financial sources used by technology-based small firms (TBSFs) in Europe. We shed light on cross-country differences and similarities in the capital structures of TBSFs, in the organization and dynamics of the venture capital industries and...

Persistent link: https://www.econbiz.de/10005481673

An assessment of government funding of business angel networks: a regional study

Collewaert, V.; Manigart, S.; Aernoudt, Rudy - Vlerick Business School - 2007

In this paper we evaluate whether government intervention through the public funding of business angel networks is warranted. Based on a regional study of four BANs, we find that these subsidies reach their goals in terms of contribution to economic development and reducing financing and...

Persistent link: https://www.econbiz.de/10005464793

The Optimality of Multi-stage Venture Capital Financing: An Option-Theoretic Approach

Dubil, Robert - In: Journal of Entrepreneurial Finance 9 (2004) 3, pp. 1-14

For venture capital firms, facing undiversifiable risks, multi-staged financing is an optimal contract which offers significant risk reduction at a cost of only slightly lower potential return. The optimality does not depend on the presence of moral hazard and agency problems. Our theoretical...

Persistent link: https://www.econbiz.de/10011133310

Labor regulations and European venture capital

Bozkaya, Ant; Kerr, William R. - Suomen Pankki - 2013

European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor market insurance...

Persistent link: https://www.econbiz.de/10011106047