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Financial signalling by innovative nascent entrepreneurs
Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - 2009
External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that … increase the likelihood of obtaining equity finance. Thus, if signals are credible, innovation positively impacts external … that the relation between finance and innovation depends on the stage of a start-up lifecycle. …
Persistent link: https://www.econbiz.de/10010266651
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Preisbildung und Wettbewerb im Wagniskapitalmarkt
Pytlik, Matthias - 2001
Die vorliegende Arbei behandelt auf der Basis gängiger Annahmen in der Literatur zur Wagniskapitalfinanzierung ein neoklassisches Modell der Preisbildung. Im Gegensatz zu den bestehenden vertragstheoretisch motivierten Modellen werden variierende Wettbewerbsverhältnisseberücksichtigt.
Persistent link: https://www.econbiz.de/10005841031
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Cannibalization & Incentives in Venture Financing
Arping, Stefan - 2002
This paper considers the effects of strategic substitutabilities on performanceand incentives in venture capital financing. The analysis points to a subtlelink between two pivotal roles of venture capitalists: (i) monitoring venturesand setting performance incentives...
Persistent link: https://www.econbiz.de/10005843339
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Financial signaling by innovative nascent entrepreneurs
Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - 2009
External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that … increase the likelihood of obtaining equity finance. Thus, if signals are credible, innovation positively impacts external … that the relation between finance and innovation depends on the stage of a start-up lifecycle. …
Persistent link: https://www.econbiz.de/10010291111
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Importance of Spatial Proximity betweenVenture Capital Investors and Investees in Germany
Lutz, Eva; Bender, Marko; Achleitner, Ann-Kristin - Lehrstuhl für Finanzmanagement und Kapitalmärkte - 2011
Based on 1182 dyads of venture capitalists and German portfolio companies involved ina financing round between 2002 and 2007, we examine the importance of spatialproximity between investors and investees in a dense economy. We find that theprobability of a financing relationship decreases by 8%...
Persistent link: https://www.econbiz.de/10009302691
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Venture Capital
Breuer, Wolfgang; Mark, Klaus - RWTH <Aachen> / Lehrstuhl für … - 2003
Beim V. C. (Risikokapital, Wagniskapital) handelt es sich um zeitlich begrenzteKapitalbeteiligungen an jungen, innovativen, nicht börsennotierten Unternehmen, diesich trotz zum Teil unzureichender laufender Ertragskraft durch einüberdurchschnittliches Wachstumspotential auszeichnen. Das...
Persistent link: https://www.econbiz.de/10005858628
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Does Venture Capital investmentreally require spatial proximity?An empirical investigation
Fritsch, Michael; Schilder, Dirk - Technische Universität <Freiberg> - 2006
We examine the role of spatial proximity for Venture Capital (VC) investments inGermany. The main database is a survey of 85 personal interviews withrepresentatives of different types of financial institutions. The analysis shows thatspatial proximity is far less important for VC investments...
Persistent link: https://www.econbiz.de/10005864108
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Is Venture Capital a regional business? - The role of syndication
Fritsch, Michael; Schilder, Dirk - Max-Planck-Institut für Ökonomik <Jena> - 2006
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
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Access to Finance and Venture Capital for Industrial SMEs
Heimer, Thomas; Hölscher, Luise; Werner, Matthias Ralf - Frankfurt School of Finance & Management - 2008
theaccess to finance for SMEs is still inferior. Based on the importance of SMEs for nationaleconomies and the discussion on the …
Persistent link: https://www.econbiz.de/10005865616
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Added Values durch Business Angels
Mugler, Josef; Fath, Clemens - Institut für Betriebswirtschaftslehre der Klein- und … - 2004
A lot of studies show that business angels have got increased importance for the finance of small and medium … of business angel capital for the smaller firm beyond the pure finance function.From the analysis of 23 Austrian cases we …
Persistent link: https://www.econbiz.de/10005867489