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...

As the venture capital industry matures and competition increases, understanding the processes by which entrepreneurs select venture capitalists will become increasingly important. Empirical work suggests that awareness of venture capital firms is still low and that the specialist financial and...

Purpose – The purpose of this paper is to identify the key characteristics of the post‐investment relationship between the venture capital firm and its investee companies. Design/methodology/approach – The research is a case study of a major UK venture capital firm using qualitative...

Concern about the equity gap in the UK has existed for more than 60 years. Despite various government measures and institutional responses (e.g. the development of a venture capital industry) an equity gap still persists. Current debate has recognized the role of the informal venture capital...

Purpose – This paper sets out to assess the market for start‐up finance in the UK for high growth potential entrepreneurial firms. Design/methodology/approach – The paper uses data from the UK's Global Entrepreneurship Monitor surveys between 2001 and 2003 to assess the scale of equity...

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...