Using a hand-collected sample of contracts and investment proposals from German venturecapital financing relationships, we analyze specific incentive conflicts. We apply indirect anddirect measures of these problems and extend the “direct” approach by Kaplan and Strömberg(2004) to a four-...

Using a hand-collected sample of contracts and investment proposals from German venturecapital (VC) financing relationships, we find that experienced and or private law/independentVC firms rely to a lesser degree on debt financing and more on certain covenants in VC con-tracting even when we...

Dieser Beitrag untersucht die Position von Venture Capital-Gesellschaften im jeweili-gen Syndizierungsnetzwerk und analysiert den Zusammenhang zwischen der Netz-werkposition der einzelnen Unternehmen und der Quantität und der Qualität der Investi-tionsgelegenheiten, die ihnen zur Verfügung...

Using a hand-collected sample of contracts and investment proposals from German venture capital (VC) financing relationships, we find that experienced and or private law/independent VC firms rely to a lesser degree on debt financing and more on certain covenants in VC contracting even when we...

Assuming a demand-side point of view, i.e., the view of owner-managers of small and medium enterprises (SME), we identify the drivers and inhibitors of the utilisation of private equity. Subsequently, we test these using survey data. Intention to finance with private equity explains the...

We empirically investigate possible reasons for successful syndications in private equity transactions. To this end, we analyze the answers of 115 private equity firms regarding relevant resources of potential syndication partners. Based on structural equation modeling we find that only three...

This paper analyzes the positions that Venture Capital firms hold in a syndication network and determines the effect that network positions have on generating deal flow quantity and quality. Using data on syndicated investments in the German venture capital market and data on the deal flow of...