Zusammenfassung Fragestellung des Papieres ist, ob junge Unternehmen durch die Inanspruchnahme einer Beteiligungsfinanzierung (Untersuchungsgruppe) eine bessere unternehmerische Performance erzielen können im Vergleich zu einer „repräsentativen" Menge von nicht mit Beteiligungskapital...

Purpose – The paper reports on a study of private investors' assessment of projects. The study includes both financial and non‐financial analysis of projects, with an emphasis on non‐financial analysis. The purpose of this paper is to explore factors that influence the substance...

Purpose – The main aim of this article is to widen one's understanding of the value‐added contributions of business angels and, more specifically, their role as facilitators for further finance. Design/methodology/approach – This article is based on in‐depth case studies of five...

Purpose – The paper aims to examine five assumptions of agency theory: that both investor and investee make rational decisions; future outcomes are predictable; both act in their own best interests; the investee has an information advantage over the investor; and the investee is work‐ and...

The sizes, and thereby minimum investments, of venture capital funds grew phenomenally during 1995‐2000. Simultaneously, business started to transform from capital to knowledge intensive and a new gap emerged between venture and capital. A diverse group of actors referred to herein as...

Purpose – The paper aims to investigate the views of Estonian private equity and venture capitalists about the valuation of high‐growth companies and compare these with theoretical recommendations found in corporate finance and venture capital literature. Design/methodology/approach – The...

Purpose In the practice of venture capital investment, the venture capital will not only claim the share of the enterprise’s future output, but also a certain amount of fixed income. The purpose of this paper is to examine the optimal contract which blends the variable ownership income and the...

Purpose – This paper aims to identify the effectiveness of private equity and venture capital (PE/VC) funds in promoting best practices of corporate governance in small and medium enterprises (SMEs) committed to PE/VC partnerships, in an institutional environment characterized by ownership...

Purpose – How does venture capital (VC) emerge in emerging and developing economies? This paper aims to use case data from an early Russian VC fund to extend a previous model exploring that question. Design/methodology/approach – Case studies of VC emergence from South Africa, Botswana, and...