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Venture Capitalist Attributes and Investment Vehicles: An Exploratory Analysis
Norton, Edgar - In: Journal of Entrepreneurial Finance 3 (1994) 3, pp. 181-198
, diversification, and investment strategy. This paper provides an initial empirical examination of investment structure and how it …
Persistent link: https://www.econbiz.de/10010790682
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From State to Market: A Survey of Empirical Studies on Privatization
Megginson, William L.; Netter, Jeffry M. - Fondazione ENI Enrico Mattei (FEEM) - 1999
, three, and five-year investment horizons. …
Persistent link: https://www.econbiz.de/10005423173
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Private equity returns and disclosure around the world
Walz, Uwe; Cumming, Douglas - Center for Financial Studies - 2004
We study the returns the venture capital and private equity investment from 221 venture capital and private equity … the characteristics and structure of the investment. We show Heckman sample selection issues in regards to both unrealized … further compare the actual unrealized returns, as reported to investment managers, to the predicted unrealized returns based …
Persistent link: https://www.econbiz.de/10010986361
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Is the Behavior of German Venture Capitalists Different? Evidence from the Neuer Mark
Tykvová, Tereza - Center for Financial Studies - 2003
discrepancy in the investment and divestment strategies may be explained by the grandstanding phenomenon, the value … usually finance firms in a later stage, carry through fewer investment rounds and take their portfolio firms public earlier …
Persistent link: https://www.econbiz.de/10010986397
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Governance und Vertragsstrukturen in der deutschen VC Industrie: Eine empirische Einschätzung
Bienz, Carsten; Hirsch, Julia; Walz, Uwe - Center for Financial Studies - 2008
Diese Arbeit analysiert die wesentlichen Elemente der Vertragsstrukturen in der Venture Capital-Industrie. Aufbauend auf einem sehr umfangreichen und detaillierten Datensatz, der die Verträge zwischen Venture Capital-Investoren und deren Portfoliounternehmen abbildet, werden die Kontroll-,...
Persistent link: https://www.econbiz.de/10010986442
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The dynamics of venture capital contracts
Bienz, Carsten; Hirsch, Julia - Center for Financial Studies - 2005
We analyze the degree of contract completeness with respect to staging of venture capital investments using a hand-collected German data set of contract data from 464 rounds into 290 entrepreneurial firms. We distinguish three forms of staging (pure milestone financing, pure round financing and...
Persistent link: https://www.econbiz.de/10010986443
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The role of the value added by the venture capitalists in timing and extent of IPOs
Tykvová, Tereza - Center for Financial Studies - 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/10010986467
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The Financing of R&D and Innovation
Hall, Bronwyn H.; Lerner, Josh - United Nations University-Maastricht Economic Research … - 2010
Evidence on the "funding gap" for investment innovation is surveyed. The focus is on financial market reasons for …
Persistent link: https://www.econbiz.de/10010856381
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Corporate Venturing, allocation of talent, and competition for star managers
De Bettignies, Jean-Etienne; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2008
We provide new rationales for corporate venturing (CV), based on competition for talented managers. As returns to venturing increase, firms engage in CV for reasons other than capturing these returns. First, higher venturing returns increase managerial compensation, to which firms respond by...
Persistent link: https://www.econbiz.de/10010905343
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Why do contracts differ between VC types? Market segmentation versus corporate governance varieties
Hirsch, Julia; Walz, Uwe - Center for Financial Studies - 2006
The main objective of the present paper is to disentangle observed differences in the design of contracts across VC types into firm selection effects and corporate governance differences between VC types (different contracts). Based on a theoretical approach developed in the first part of the...
Persistent link: https://www.econbiz.de/10010958526