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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

"The End of the Golden Age" - The Developments of the Venture Capital and Private Equity Industry in Central and Eastern Europe

Karsai, Judit - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2009

loans itself became a synonym of the risk. Consequently the CEE countries as parts of emerging markets were handicapped …

Persistent link: https://www.econbiz.de/10005404535

Self-Selection and Advice in Venture Capital Finance

Keuschnigg, Christian; Nielsen, Soren Bo - School of Economics and Political Science, Universität … - 2006

In financing start-up firms, venture capitalists carefully select among alternative projects, design incentive compatible financial contracts and support portfolio companies with value enhancing managerial advice. This paper considers how venture capitalists can induce self-selection among...

Persistent link: https://www.econbiz.de/10005453950

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

significant risk reduction at a cost of only slightly lower potential return. The optimality does not depend on the presence of … theory, allows us to compute the risk reduction ratio due to multi-staging. The return on a staged financing plan is … standard deviation ratios for staged vs. up-front financings as well as across asset classes. We find that risk mitigation due …

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

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

Early-stage venture capital in South Africa: Challenges and prospects

Jones, Morgan; Mlambo, Chipo - Volkswirtschaftliche Fakultät, … - 2009

The aim of this paper is to assess which factors impact the development of early-stage venture capital in South Africa. Factors identified for other markets and countries are explored and their relative importance in South Africa determined from the perspective of market participants. These...

Persistent link: https://www.econbiz.de/10011112215

Funding decisions and entrepreneurial team diversity: A field study

Vogel, Rick; Puhan, Tatjana Xenia; Shehu, Edlira; … - In: Journal of Economic Behavior & Organization 107 (2014) PB, pp. 595-613

This study provides experimental evidence, using a large sample of 2894 individuals recruited via business media websites, about the impact of demographic attributes within entrepreneurial teams on funding decisions by external capital providers. In previous work the role of diversity with...

Persistent link: https://www.econbiz.de/10011116882

Ethnic matching in the U.S. venture capital market

Bengtsson, Ola; Hsu, David H. - In: Journal of Business Venturing 30 (2015) 2, pp. 338-354

We document the role of entrepreneurial founder and venture capital (VC) partner co-ethnicity in shaping investment relationships. Co-ethnicity increases the likelihood that a VC firm invests in a company. Conditional on investment, co-ethnicity strengthens the degree of involvement by raising...

Persistent link: https://www.econbiz.de/10011208352

Post-Investment Migration of Canadian Venture Capital-Backed New Technology-Based Firms

Carpentier, Cécile; Suret, Jean-Marc - Centre Interuniversitaire de Recherche en Analyse des … - 2014

Numerous innovative Canadian new technology-based firms migrate abroad when local venture capitalists exit. This article aims to determine how common this type of exit is, and to understand the motivations behind and the consequences of these migrations. We use a mixed-methodology approach,...

Persistent link: https://www.econbiz.de/10011183699