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The Determinants of Venture Capital: Additional Evidence
van Pottelsberghe de la Potterie, Bruno; Romain, Astrid - 2004
This paper attempts to identify and evaluate the main determinants of venture capital (VC). We develop a theoretical model where macroeconomic conditions, technological opportunity, and the entrepreneurial environment affect the demand and supply of VC. The quantitative results, based on a panel...
Persistent link: https://www.econbiz.de/10010295646
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Venture Capital Firms Valuation in Bull and Bear Markets : Evidence From Sweden
Isaksson, Anders - 2020
This study uses an experimentally designed case study approach to investigate Swedish venture capital firms' valuation practices in two different economic contexts – the economic boom (bull market) of 1999 and the downturn (bear market) of 2002. A key finding in our study is that during...
Persistent link: https://www.econbiz.de/10012838963
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Angel Cognition and Active Involvement in BA Groups : A Cross-Country Empirical Analysis
Wirtz, Peter - 2019
The present research sets out to reach a better understanding of the determinants of business angels' active involvement in making business angel groups accomplish diverse functions and building cognitive resources and shared competencies. We develop a framework where angels' decision making...
Persistent link: https://www.econbiz.de/10012888909
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European Competitiveness : A Semi-Parametric Stochastic Metafrontier Analysis at the Firm Level
Dumont, Michel - 2014
In this paper a semiparametric stochastic metafrontier approach is used to obtain insight into firm level competitiveness in Europe. We differ from standard TFP studies at the firm level as we simultaneously allow for inefficiency, noise and do not impose a functional form on the input-output...
Persistent link: https://www.econbiz.de/10013050095
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Are particular industries more likely to succeed? A comparative analysis of VC investment in the US and Europe
Kraeussl, Roman; Krause, Stefan - 2010
The objective of this study is to determine whether specific industries across countries or within countries are more likely to reach a stage of profitability and make a successful exit. In particular, we assess whether firms in certain industries are more prone to exit via IPO, be acquired, or...
Persistent link: https://www.econbiz.de/10010303725
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Are particular industries more likely to succeed? : a comparative analysis of VC investment in the US and Europe
Kräussl, Roman; Krause, Stefan - 2010
The objective of this study is to determine whether specific industries across countries or within countries are more likely to reach a stage of profitability and make a successful exit. In particular, we assess whether firms in certain industries are more prone to exit via IPO, be acquired, or...
Persistent link: https://www.econbiz.de/10003947460
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Which form of venture capital is most supportive of innovation?
Bertoni, Fabio; Tykvová, Tereza - 2012
Although there seems to be consensus in the literature that venture capital investors increase the innovation output of their portfolio companies, there is little evidence about how investor type (governmental vs. private) and transaction structure (syndicated vs. non-syndicated) moderate this...
Persistent link: https://www.econbiz.de/10009510109
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Dynamic Implied Correlation Modeling and Forecasting in Structured Finance
Löhr, Sebastian - 2015
Correlations are the main drivers for credit portfolio risk and constitute a Major element in pricing credit derivatives such as synthetic single-tranche collateralized debt obligation swaps. This paper suggests a dynamic panel regression Approach to model and forecast implied correlations....
Persistent link: https://www.econbiz.de/10013034784
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Are Financial Analysts of IPO Firms Under Pressure : The European Evidence
Boissin, Romain - 2012
Long run returns of IPO firms' recommendations in Europe reveal possible conflicts of interest and pressures faced by financial analysts over the 1991-2005 period. Nevertheless, recent European legislations about investment research have led to better long run performance of IPO firms'...
Persistent link: https://www.econbiz.de/10013112142
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Modeling and explaining the dynamics of European Union allowance prices at high-frequency
Conrad, Christian; Rittler, Daniel; Rotfuß, Waldemar - 2010
In this paper we model the adjustment process of European Union Allowance (EUA) prices to the releases of announcements … the high-frequency EUA price dynamics are very well captured by a fractionally integrated asymmetric power GARCH process …. The decisions of the European Commission on second National Allocation Plans have a strong and immediate impact on EUA …
Persistent link: https://www.econbiz.de/10010300507