Showing 1 - 10 of 515
Existing literature suggests that entrepreneurs with prior firm-founding experience have moreskills and social connections than novice entrepreneurs. Such skills and social connectionscould give experienced founders some advantage in the process of raising venture capital.This paper uses a large...
Persistent link: https://www.econbiz.de/10005862321
Informed capital is a crucial ingredient to a well-functioning market for start-upfinance, especially in times of difficult market conditions. For bank-basedsystems, the question regarding which investors actually supply informed capitalhas not yet been answered. To fill this gap, we conduct a...
Persistent link: https://www.econbiz.de/10005864104
Grund für eineregionale Unterversorgung an Risikokapital darstellt... …
Persistent link: https://www.econbiz.de/10005864108
We investigate whether the supply of Venture Capital (VC) in Germany is driven by spatial influences. The study is based on information from more than 300 VC investments made in Germany between 2004 and 2005. We find evidence that the geographical distance between a VC company and the portfolio...
Persistent link: https://www.econbiz.de/10005864733
Using a comprehensive database of European firms, we study how private equityaffects the rate of firm entry. We find that private equity investment benefits newbusiness incorporation, especially in industries with naturally higher entry rates andR&D intensity. A two standard deviation increase...
Persistent link: https://www.econbiz.de/10005866482
The start-up team plays a key role in venture capitalists’ evaluations of venture proposals. Ourfindings go beyond existing research, first by providing a detailed exploration of VCs’ team evaluationcriteria, and second by investigating the moderator variable of VC experience. Our results...
Persistent link: https://www.econbiz.de/10005870622
This paper extends recent research studying biases in venture capitalist’s decision-making. Wecontribute to this literature by analyzing biases arising from similarity between a venture capitalist andmembers of a venture team. We summarize the psychological foundations of such similarity...
Persistent link: https://www.econbiz.de/10005870624
This paper examines the German venture capital (VC) syndicate networks and towhat extent certain characteristics of VC companies determine the investors’interconnectedness. The data used contains detailed information on 300 VCinvestments and their investors from the years 2004 and 2005. The...
Persistent link: https://www.econbiz.de/10005864066
This study empirically evaluates the price impact of agency risk in firm valuation. Using aunique data set comprised of internal valuation documents, we find that venture capitalistsuse risk discounts to cope with expected agency risks...
Persistent link: https://www.econbiz.de/10005866808
We analyse a model of two-sided matching and incentive contracts where expertinvestors (venture capitalists) with different monitoring capacities are matched withfirms with different levels of initial wealth. Firms do not have sufficient start-upcapital to cover their project costs and hence,...
Persistent link: https://www.econbiz.de/10005868831